Question: 0 / 0.5 pts Incorrect Question 6 A monopolistically competitive market is like a monopoly in that O firms in both market structures produce the

0 / 0.5 pts Incorrect Question 6 A monopolistically competitive market is like a monopoly in that O firms in both market structures produce the welfare-maximizing level of output. the main objective of firms in both market structures is something other than profit maximization. firms in both market structures set price above marginal cost. both market structures feature easy entry by new firms in the long run. Incorrect Question 7 0 / 0.5 pts Which of the following conditions is characteristic of a monopolistically competitive firm in short-run equilibrium? : All of the answers are correct. OP - AR P > MC O MR = MC

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