How Does a Monopoly Differ from Monopolistic Competition

Multiple Choice

How does a monopoly differ from monopolistic competition?

A) A monopoly has market power while a firm in monopolistic competition does not have any market power.
B) A monopoly can never incur a loss, but a firm in monopolistic competition can.
C) In a monopoly there are significant entry barriers, but there are low barriers to entry in a monopolistically competitive market structure.
D) A monopoly faces a perfectly inelastic demand curve while a monopolistic competitor faces an elastic demand curve.