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When comparing a perfectly competitive firm and a (single-price) monopolist, a major difference is that

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When comparing a perfectly competitive firm and a (single-price) monopolist, a major difference is that

When comparing a perfectly competitive firm and a (single-price) monopolist, a major difference is that

▸ the monopolist achieves allocative efficiency but the perfect competitor does not.

▸ the perfect competitor achieves productive efficiency, but the monopolist does not.

▸ the perfect competitor produces where P = MC, but the monopolist does not.

▸ the monopolist produces where MR = MC, but the perfect competitor does not.

▸ the perfect competitor minimizes its costs, but the monopolist does not.

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Microeconomics

Edition: 17^th

Author: Ragan

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tw1gg Author

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Just got PERFECT on my quiz

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this is exactly what I needed

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Helped a lot

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