A firm in a monopolistically competitive market is similar to a monopoly in the sense that (i) they both face downward-sloping demand curves. (ii) they both charge a price that exceeds marginal cost. (iii) free entry and exit determines the long-run equilibrium

a. (i) only
b. (ii) only
c. (i) and (ii) only
d. (i), (ii), and (iii) only

c