When Comparing Perfect Competition and Monopolistic Competition, We Find That

Multiple Choice

When comparing perfect competition and monopolistic competition, we find that

A) firms in monopolistic competition produce identical products just as do firms in perfect competition.
B) firms in monopolistic competition face barriers to entry, unlike firms in perfect competition.
C) advertising plays a large role in monopolistic competition, unlike in perfect competition.
D) firms in monopolistic competition are price takers just as is the case for firms in perfect competition.