A Major Difference Between Monopoly and Monopolistic Competition Is

question 102

Multiple Choice

A major difference between monopoly and monopolistic competition is

• A)One maximizes profits by setting MR equal to MC,and the other does not.
• B)The number of firms in the market.
• C)One type of firm has market power,and the other does not.
• D)One has a downward-sloping demand curve,and the other does not.

---

Definitions:

Facts

Information that is empirically proven to be true and verifiable.

Demographics

Statistical data relating to the population and particular groups within it, often used to identify characteristics such as age, gender, income, etc.

Attitudes

Mental and emotional entities that encapsulate an individual's feelings, beliefs, and predispositions toward objects, people, or situations.

Behaviors

Patterns of action or reactions of an individual or group in response to external or internal stimuli.