Which of the Following Is a Distinction Between Perfectly Competitive

question 10

Multiple Choice

Which of the following is a distinction between perfectly competitive and monopolistic competition?

• A) Perfectly competitive firms must compete with rival sellers; monopolistically competitive firms do not confront rival sellers.
• B) Monopolistically competitive firms can raise their price without losing sales; perfectly competitive firms must lower their price in order to sell more of their product.
• C) Perfectly competitive firms confront a perfectly elastic demand curve; monopolistically competitive firms face a downward-sloping demand curve.
• D) Perfectly competitive firms may make either economic profits or losses in the short run, but monopolistically competitive firms always earn an economic profit.

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