Monopoly is unlike perfect competition in that ______.
a. a monopolist's price is greater than marginal cost
b. there are no barriers to entry into a monopoly industry
c. a monopolist earns an economic profit only if its price is greater than ATC
d. all of the preceding are ways in which monopoly is unlike perfect competition
e. a monopolist's price is greater than marginal cost and there are no barriers to entry into a monopoly industry, but not a monopolist earns an economic profit only if its price is greater than ATC, are ways in which monopoly is unlike perfect competition
Ans: a. a monopolist's price is greater than marginal cost
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