Which of the following describes why monopolists do not produce the allocatively efficient quantity, but a perfectly competitive firm does?
O A monopolist's marginal cost curve is higher than its average total cost curve, but a perfectly competitive firm's marginal cost is less than its average total cost curve.
O A monopolist charges a price higher than marginal cost, but a perfectly competitive firm's price equals marginal cost.
O A monopolist earns long-run profits, but a perfectly competitive firm does not.
O A monopolist's average total cost curve is horizontal, but a perfectly competitive firm's average total cost curve is u-shaped.
O A monopolist's demand curve is horizontal, but a perfectly competitive firm's demand curve is downward sloping.