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
-In the context of market structure, the characteristic that best describes a monopolistically competitive market is that:

A) there are few firms in the market.
B) the products produced cannot be easily differentiated.
C) entry and exit are both difficult.
D) firms spend a great deal on advertising and promotion.
E) firms spend very little on advertising and promotion.