Question: Which of these statements regarding the differences between monopoly and a competitive market are true? There are more firms in a competitive market than

Which of these statements regarding the differences between monopoly and a competitive market are true? There are more firms in a competitive market than in a monopoly monopoly is a price maker, while a competitive firm is a price taker. A monopolist will produce less than the output produced in a perfectly competitive market A monopolist can earn profits in the long run, but a firm in a perfectly competitive market cannot.

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