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A significant long-run difference between monopoly and competition is that a

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A significant long-run difference between monopoly and competition is that

a. there's free entry and exit in a competitive industry, whereas barriers to entry exist in a monopolized market.

b. the monopolist controls market supply, whereas the competitive firm's influence on market supply is imperceptible.

c. the demand curve for the monopolist is the industry demand curve, whereas the demand curve faced by the competitive firm is perfectly elastic.

d. All of the above.