Compared to a competitive firm, a monopoly will ... (select all correct answers) A. be less efficient B. charge a higher price C. produce an output where marginal revenue is lower than marginal cost D. produce greater quantities Price Cost ATC Demand Quantity The diagram below shows the demand and average total cost curve for Friedman Inc., monopolistic competitor. Friedman Inc, produces chains in this market. In the diagram, the relationship berween the demand curve and average total cost curve shows that Friedman Inc. is currently warning som Quantity The diagram below shows the demand and average total cost curve for Friedman Inc, a monopolistic competitor. Friedman Inc. produces chairs in this market. In the diagram, the relationship between the demand curve and average total cost curve shows that Friedman Inc. is currently Cearning a los breaking even Cearning a profit In the long run, which of the following is likely to happen Come firms will exit the market some firms will enter the market there will be no change in the market Shift the demand curve (by grabbing the big dot at the end) so it represents the long run so that Friedman Inc. is still in the market