Question: Over the long - run, how does an oligopoly compare with perfect competition?Group of answer choicesThe oligopoly charges lower prices relative to perfect competition.Perfect competition

Over the long

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run, how does an oligopoly compare with perfect competition?Group of answer choicesThe oligopoly charges lower prices relative to perfect competition.Perfect competition produces more output than the oligopoly.The oligopoly maximizes social welfare relative to perfect competition.Perfect competition achieves greater collusion than the oligopoly.

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