If a Perfectly Competitive Firm and a Monopolistic Competitor in Long

Multiple Choice

If a perfectly competitive firm and a monopolistic competitor in long run equilibrium face the same demand and cost curves, then the competitive firm will produce a

A) greater output and charge a lower price than the monopolistic competitor.
B) greater output, but charge the same price as the monopolistic competitor.
C) greater output and charge a higher price than the monopolistic competitor.
D) smaller output and charge a lower price than the monopolistic competitor.
E) smaller output and charge a higher price than the monopolistic competitor.