The Market Structure Called Monopolistic Competition Is Named Using Both

Multiple Choice

The market structure called monopolistic competition is named using both monopoly and perfect competition.Why?

A) There are few firms in the market all producing the same product.
B) There is just one firm whose product can be easily differentiated.
C) There are a huge number of firms selling identical products at a constant price.
D) There are many firms with easy entry and exit but each firm sells a unique product.
E) Firms spend very little on advertising and promotion and thus are price takers.