assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.

assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter9: Market Structure And Long-run Equilibrium

Section: Chapter Questions

Problem 4MC

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