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QUESTION
Monopolies differ from perfectly competitive firms in the long run because a. perfectly competitive firms can earn economic profit b. monopolies can...
Monopolies differ from perfectly competitive firms in the long run because
a.
perfectly competitive firms can earn economic profit
b.
monopolies can earn economic profit
c.
monopolies produce a smaller share of the industry output
d.
patents and copyright laws protect monopolists for as long as they desire
e.
monopolists have long-run average cost curve
