[Solved] Which of the following is a classical reference on Ghiberti's 1401 competition panel? A) the drapery flowing on the body of Isaac B) the elongated S curve of Isaac's body C) the classical costumes worn by the figures D) the naked figure of Isaac Monopolistically Competitive Firm: A company that operates in a market with many competitors, each offering slightly differentiated products. Product Differentiation: Making a product or service stand out to a particular target market by distinguishing it from competitors. Profit-Maximizing Firms: Companies that operate with the goal of making the highest possible profit from their activities. Marginal Cost: The cost incurred by producing one additional unit of a product or service.