A similarity between monopoly and perfect competition is that both types of firms are able to earn economic profits in the short run.
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Q39: If the monopolist's supply curve is drawn,
Q40: A natural monopoly occurs when a single
Q41: The rule of MC = MR does
Q42: A monopolist can maximize profits by determining
Q43: A monopoly restricts output and charges a
Q45: Although monopoly has lower output than competition,
Q46: A monopolist can earn a positive economic
Q47: Entry barriers can lead to long-run economic
Q48: A monopoly may breed inefficiency by reducing
Q49: Compared to a perfectly competitive industry, a
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