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The major difference between monopolistic competition and monopoly is

Loraine

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The major difference between monopolistic competition and monopoly is

The major difference between monopolistic competition and monopoly is
A) monopoly is a price setter and a firm in monopolistic competition is a price taker.
B) only a monopoly can earn an economic profit in the long run.
C) only a firm in monopolistic competition can earn an economic profit in the short run.
D) how the quantity of output is determined.
E) only firms in monopolistic competition are protected by barriers to entry.

Textbook

Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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Loraine Author

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8 years ago

This helped my grade so much Perfect

linlinlin

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Thanks

Holly72492

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Smart ... Thanks!

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