question archive Unlike perfectly competitive firms, monopolists: a
Subject:MarketingPrice:2.88 Bought3
Unlike perfectly competitive firms, monopolists:
a. Earn positive short-run economic profit even if the price is less than the average variable cost at all rates of output,
b. Sell any quantity of output at any price they choose,
c. Earn long-run economic profits,
d. Reduce the sales of firms in other industries through advertising,
e. Face a perfectly elastic demand curve.
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