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Loraine Loraine
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9 years ago
Which of the following statements is FALSE?
A) A perfectly competitive market produces more output and charges a lower price than a monopoly.
B) A perfectly competitive firm produces where MR = MC but a monopoly produces where MR > MC.
C) In a perfectly competitive market, the price is equal to the marginal cost, but in a market with a single-price monopoly, price exceeds marginal cost.
D) The consumer surplus is smaller for a market with a monopoly than for a perfectly competitive market.
E) In the long run, a monopoly can earn a larger economic profit than can a perfectly competitive firm.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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9 years ago
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8 years ago
My pleasure Happy Dummy
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