Monopolistic Competition Differs from Monopoly Because in Monopolistic Competition

question 3

Multiple Choice

Monopolistic competition differs from monopoly because in monopolistic competition

• A)firms maximize profits.
• B)firms set marginal revenue equal to marginal cost to maximize profit.
• C)firms are free to enter and exit.
• D)All of the above are differences between monopoly and monopolistically competitive firms.
• E)None of the above are differences between monopoly and monopolistically competitive firms.