Question: Please answer correct explain plz asap plz Don't answer by pen paper plz Attempts Average / 2 5. Individual Problems 9-5 Describe the difference in

Please answer correct explain plz asap plz

Don't answer by pen paper plz

plz Attempts Average / 2 5. Individual Problems 9-5 Describe the difference

Attempts Average / 2 5. Individual Problems 9-5 Describe the difference in economic profit between a competitive firm and a monopolist in both the short and long run. Which should take longer to reach the long-run equilibrium? In the short run, both monopolists and competitive firms earn positive economic profits. In the long run, can earn a positive economic profit. True or False: The adjustment to long-run equilibrium occurs more quickly for competitive industries than for monopolists. O True O False

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