Which of the following is true of pure monopolies? group of answer choices monopolies can earn positive economic profits in the long run. monopolies produce output that is greater than the competitive level. monopolies produce products that have a negligible marginal cost but a high fixed cost. monopolies reduce welfare by engaging in excessive product differentiation. answers monopolies earn positive economic profits in the long run and monopolies reduce welfare by engaging in excessive product differentiation are both correct.
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Which of the following is true of pure monopolies? group of answer choices monopolies can earn posi...
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