This is a drag and drop question. There are lots of differences between a market served by a monopoly and a market that is perfectly competitive. Sort the items below according to whether they are associated with a single-price monopoly or perfect competition. 1. A characteristic of monopoly 2. A characteristic of Perfect (Pure) monopoly "These are the answere i have to drag into either answer 1 or answer 2" - Price is higher than in other market structure - an efficient quantity is produced - Firms can earn positive economic profit in the long run. - There are significant barriers to entry. - Firms have no market power.
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