Which statement is correct? Answer Monopoly firms tend to be more internally eff

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Which statement is correct? Answer Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization Monopoly firms are sheltered from competitive forces and such an environment makes them subject to X-inefficiency Monopoly firms are in industries with low barriers to entry that tend to lower the cost of producing products Competitive firms tend to be more efficient than monopolist firms because they maximize per unit profits, not total profits Which statement is correct? Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization Monopoly firms are sheltered from competitive forces and such an environment makes them subject to X-inefficiency Monopoly firms are in industries with low barriers to entry that tend to lower the cost of producing products Competitive firms tend to be more efficient than monopolist firms because they maximize per unit profits, not total profits Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization Monopoly firms are sheltered from competitive forces and such an environment makes them subject to X-inefficiency Monopoly firms are in industries with low barriers to entry that tend to lower the cost of producing products Competitive firms tend to be more efficient than monopolist firms because they maximize per unit profits, not total profits

Explanation / Answer

Monopoly firms are sheltered from competitive forces and such an environment makes them subject to X-inefficiency

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