The cost-revenue diagrams for a monopolist and a monopolistic competitor are similar except that the demand curve for the monopolistic competitor is flatter.

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This statement is true. Both a monopolist and a monopolistic competitor face downward-sloping demand curves, but the demand curve for a monopolistic competitor is typically flatter due to the presence of close substitutes in the market. This results in a greater degree of price elasticity of demand for the monopolistic competitor. As a result, the monopolistic competitor may have a smaller degree of market power than a monopolist, which can affect their pricing and output decisions.

The Cost-Revenue Diagrams for a Monopolist and a Monopolistic Competitor