Which of the Following Is a Major Difference Between a Monopolist

question 8

Multiple Choice

Which of the following is a major difference between a monopolist and firms in perfectly competitive markets?

• A) The monopolist may earn short-run profit; firms in perfectly competitive markets cannot.
• B) The monopolist maximizes profit; firms in perfectly competitive markets maximize sales.
• C) The monopolist is a price taker; firms in other markets are price searchers.
• D) The monopolist may earn long-run economic profit; firms in perfectly competitive markets cannot.

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