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The major difference between monopoly and monopolistic competition is:
a. P > MR for a monopolist, whereas P= MR for a monopolistically competitive firm
b. A monopolist can earn pure profit in the long run, whereas a monopolistically competitive firm cannot
c. A monopolist produces the same output in both the short run and in the long run, whereas a monopolistically competitive firm produces less in the short run than in the long run
d. A monopolist has monopoly power, whereas a monopolistically competitive firm does not
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Do your own fucking homework.
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D
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D
Monopolistic competition is when the products aren't perfectly substituted, Coca Cola has a monopoly in Coke and Pepsi has a monopoly in Pepsi, but none of them have a monopoly in soft drinks.
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>>1645656
too stupid to figure it out? read the first part of each and you can automatically stop reading the sentences half way through because they're wrong. you are a fuckin idiot bro, change your major you dumbass
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>>1645768
You're the fucking retard, OP just looking for help. Also, every business major needs to take economics, doesn't necessarily make him an econ major. You'd know this if you weren't a fucking nigger.
I think it's B btw, all these varying answers mean it's a difficult question.
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