Why are the underlying economic meanings of the perceived demand curves for a monopolist and monopolistic competitor different?
A) a monopolist faces the market demand curve and a monopolist competitor does not
B) a monopolist competitor faces the market demand curve and a monopolist does not
C) because the demand curve for a monopolistic competitor is upward sloping
D) because the demand curve perceived by the monopolist is flatter than that of a monopolist competitor
Correct Answer:
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