One major similarity between perfect competition and monopolistic competition is that:
a. the firms earn above normal profits in the long run.
b. the firms are price makers.
c. the firms produce identical products.
d. the firms just break even in the long run.
e. entry of firms is barred in the long run.
d
Economics
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A monopolistically competitive firm always faces a(n) ________
A) horizontal demand curve B) vertical demand curve C) upward sloping demand curve D) downward sloping demand curve
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