"Competitive Price-Taker Markets" and "Purely Competitive Markets" Are

Multiple Choice

"Competitive price-taker markets" and "purely competitive markets" are

A) similar, but competition is stronger in the latter.
B) similar, but products are differentiated in the former.
C) merely alternative names for the same concept.
D) terms used to designate markets in which the firms confront a downward sloping demand curve.