Which of the following is the general distinction between price taker firms and

Question

Which of the following is the general distinction between price taker firms and monopolistic competitive firms? a) pure competitors must compete with rival sellers, while monopolistically competitive firms cooperate each other. b) monopolistically competitive firms can raise their price without losing sales; pure competitive firms cannot. c) pure competition firms make economic losses, but monopolistic competitive firms make economic profits. d) pure competitors confront a perfectly elastic demand curve, while monopolistic competitive firms face a downward-sloping demand curve.

Explanation / Answer

b

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