Difference between a competitive firm and a monopoly firm

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Reference no: EM13735550

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

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

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

c. The number of customers served by the firm.

d. Monopoly firms enjoy government protection from competition.

Reference no: EM13735550

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