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peachcrow879Lv1
28 Nov 2020
A monopoly differs from monopolistic competition in that:
A. in a monopoly, there are significant entry barriers, but there are low barriers to entry in a monopolistically competitive market structure.
B. a monopoly can never make a loss, but a firm in monopolistic competition can
C. a monopoly has market power, while a firm in monopolistic competition does not have any market power
D. a monopoly faces a perfectly inelastic demand curve while a monopolistic competitor faces an elastic demand curve
A monopoly differs from monopolistic competition in that:
A. in a monopoly, there are significant entry barriers, but there are low barriers to entry in a monopolistically competitive market structure.
B. a monopoly can never make a loss, but a firm in monopolistic competition can
C. a monopoly has market power, while a firm in monopolistic competition does not have any market power
D. a monopoly faces a perfectly inelastic demand curve while a monopolistic competitor faces an elastic demand curve
Divya SinghLv10
5 Jan 2021
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