The Figure Given Below Shows the Cost and Revenue Curves

Multiple Choice

The figure given below shows the cost and revenue curves of a monopolist.Figure 11.9
D: Average revenue
MR: Marginal revenue
ATC: Average total cost
MC: Marginal cost
-Monopolistic competition is similar to perfect competition in that:

A) there are only a few firms in the market.
B) the entry into and exit from the market is easy.
C) there are significant barriers to entry in the market.
D) each firm sells a homogeneous product.
E) each firm differentiates its product through advertising.