What distinguishes monopolistic competition from perfect competition?
A) The number of firms
B) The ease of entry and exit
C) The difficulty new firms have in entering monopolistic competition as compared with perfect competition.
D) In monopolistic competition each firm sells a slightly different or unique product; that is not the case in perfect competition.
E) In perfect competition each firm sells a slightly different or unique product; that is not the case in monopolistic competition.
Correct Answer:
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