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Both the perfectly competitive firm and the monopolist find that:
Random Variable
A variable whose possible values are outcomes of a random phenomenon, often denoted in probability and statistics.
Uncountable Number
A type of set or quantity of mathematical entities that cannot be paired with the natural numbers, indicating an infinite quantity that is not countably infinite.
Random Variable
A numerical variable that reflects the outcomes of an unpredictable event.
Standard Normal Distribution
A normal distribution with a mean of 0 and a standard deviation of 1, used in statistical analysis.
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