The Only Difference Between Monopolistic Competition and Perfect Competition Is

Multiple Choice

The only difference between monopolistic competition and perfect competition is that a firm in monopolistic competition _____________ and a firm in perfect competition ____________.

A) is in an industry with only a few other firms;is in an industry with many other firms
B) sells a differentiated product;sells a homogeneous product
C) sells a homogeneous product;sells a differentiated product
D) cannot easily leave the industry;can easily leave the industry
E) can easily leave the industry;cannot easily leave the industry