(Answered) Question the use of the word monopoly in the name of the

Economics

Question: The use of the word "monopoly" in the name of the market structure called "monopolistic competition" refers to the fact that

a. a monopolistically competitive firm faces a downward-sloping demand curve for its differentiated product and so does a monopolist.

b. monopolistically competitive markets have free entry and exit just like a monopolistic market.

c. monopolistically competitive firms charge prices equal to the if marginal costs just like monopolists.;

d. monopolistically competitive firms produce beyond their efficient scale and so do monopolists.

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