Perfectly competitive firm and monopolist

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Reference no: EM131246345

1. An important difference between a perfectly competitive firm and a monopolist is

a. the size of the firms.

b. the shape of the demand curve each faces.

c. the goals of the owners of the firms.

d. a monopolist normally produces a service, while a perfect competitor normally produces a good.

2. Which of the following would NOT be a barrier to entry for a particular market?

a. ownership of a patent

b. low cost of obtaining initial capital

c. the presence of economies of scale

d. government regulation

Reference no: EM131246345

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