Difference between a competitive firm and a monopoly firm

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Reference no: EM131047137

What is the main difference between a competitive firm and a monopoly firm?

a. The number of customers served by the firm.

b. Monopoly firms are more efficient and therefore have lower costs.

c. Monopoly firms can generally earn positive profits over a longer period of time.

d. Monopoly firms enjoy government protection from competition.

Reference no: EM131047137

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