Monopolistic Competition Is Similar to

Multiple Choice

Monopolistic competition is similar to

A) perfect competition because the firms face downward-sloping demand curves and can earn only a normal profit in the long run
B) pure monopoly because the firms face downward-sloping demand curves and can earn only a normal profit in the long run
C) perfect competition because the firms face downward-sloping demand curves and similar to pure monopoly in that the firms can earn only a normal profit in the long run
D) pure monopoly because the firms face downward-sloping demand curves and similar to perfect competition in that the firms can earn only a normal profit in the long run
E) pure monopoly because the firms face downward-sloping demand curves and can earn an economic profit in the long run