As compared to a perfectly competitive firm, a monopolistically competitive firm will

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A monopolistically competitive firm sells a more differentiated product than a perfectly competitive firm. This means that the monopolistically competitive firm has some control over the price of its product, as consumers may be willing to pay a higher price for the unique features it offers. However, it still faces competition from other firms with similar products, and there are generally low barriers to entry in the market, unlike a monopoly.

As Compared to a Perfectly Competitive Firm, a Monopolistically Competitive