Monopolistic competitors:
A)have some ability to set price.
B)must accept the price as given and therefore are price takers.
C)produce goods that are standardized and hard to differentiate.
D)eventually produce at their minimum ATC at the profit-maximizing level.

Question

Quizplus · Accepted Answer

Monopolistic competitors have some ability to set prices due to the differentiation of their products, although they still face competition from other firms with similar products.

Monopolistic Competitors