A monopoly firm is different from a competitive firm in that - 6119

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17) A monopoly firm is different from a competitive firm in that

 

A.

there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product

 

B.

a monopolist's demand curve is perfectly inelastic while a competitive firm's demand curve is perfectly elastic

 

C.

a monopolist can influence market price while a competitive firm cannot

 

D.

a competitive firm has a U-shaped average cost curve while a monopolist does not

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The ans