(Choose 1 answer)
A firm in a monopolistically competitive market is similar to a monopoly because: (i) they both face downward-sloping demand curves; (ii) they both charge a price that exceeds MC; (iii) free entry and exit in the long-run
A. (i) only
B. (ii) only
C. (i) and (ii) only
D. (i), (ii), and (iii) only
Exit 25
