Both monopolies and competitive firms
A) are price takers.
B) are price makers.
C) face barriers to entry.
D) make long-run economic profits.
E) try to maximize profits.

Name: Both monopolies and competitive firms A) are price takers. B) are price makers. C) face barriers to entry. D) make long-run economic profits. E) try to maximize profits.
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Question

Quizplus · Accepted Answer

Both monopolies and competitive firms aim to maximize profits, although they do so under different market conditions.

Both Monopolies and Competitive Firms