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In both perfect competition and monopolistic competition, each firm Group of answer choices has some monopoly power. sells a product that is at least slightly different from those of other firms. faces a downward-sloping demand curve. has many competitors.

Respuesta :

In both perfect competition and monopolistic competition, each firm has many competitors.

What is a perfect competition and monopolistic competition?

A perfect competition is when there are many buyers and sellers of  similar goods and services. Market prices are set by demand and supply. There are no barriers to entry or exit of firms into the industry.

A monopolistic competition is when there are many firms selling slightly different products in an industry. A monopolistic competition faces a downward sloping demand curve.

To learn more about perfect competition, please check: https://brainly.com/question/17110476

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