The difference between a perfectly competitive firm and a monopolistically competitive firm is that - 6121

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18) The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a

 

A.

horizontal demand curve and price equals marginal cost in equilibrium

 

B.

horizontal demand curve and price exceeds marginal cost in equilibrium

 

C.

downward-sloping demand curve and price equals marginal cost in equilibrium

 

D.

downward-sloping demand curve and price exceeds marginal cost in equilibrium

Solution Description

The ans