Which of the Following Is Not a Difference Between a Monopoly

question 10

Multiple Choice

Which of the following is not a difference between a monopoly and a competitive firm?

• A)An industry that is monopolized will produce less than the same industry that is competitive.
• B)Monopolies always earn economic profits, whereas competitive firms never do.
• C)For a monopoly, price is greater than marginal revenue, whereas price and marginal revenue are the same for a competitive firm.
• D)There is a deadweight loss associated with a monopoly, whereas a competitive industry suffers no deadweight loss.
• E)A competitive firm produces at minimum average total cost in a long-run equilibrium, whereas this is not necessarily the case for a monopoly.