The Difference Between a Perfectly Competitive Firm and a Monopolistically

The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a:

A) horizontal demand curve and price equals marginal cost in equilibrium.
B) horizontal demand curve and price exceeds marginal cost in equilibrium.
C) downward-sloping demand curve and price equals marginal cost in equilibrium.
D) downward-sloping demand curve and price exceeds marginal cost in equilibrium.

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