In the long-run equilibrium, a difference between monopolistically competitive firms and perfectly competitive firms is:

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In the long-run equilibrium, monopolistically competitive firms produce on the downward sloping section of their ATC curves, while perfectly competitive firms produce at the minimum of ATC. This is because monopolistically competitive firms have some degree of market power, which allows them to charge a price above their marginal cost. However, because there are close substitutes available, they cannot charge a price that is too high or they will lose customers to their competitors. As a result, they produce at a level where their price is equal to their average total cost, but their average total cost is not at its minimum point. In contrast, perfectly competitive firms do not have any market power and must sell their product at the market price. Because the market price is determined by the intersection of the supply and demand curves, which are assumed to be perfectly elastic in the long run, each firm in a perfectly competitive industry produces at the minimum of its average total cost curve.

In the Long-Run Equilibrium, a Difference Between Monopolistically Competitive Firms