James a college student alleges that there are four differences between monopolistic competitors and monopolists, as follows. Which of these alleged differences is false? Group of answer choices The monopolist may make a profit in the long run whereas the monopolistic competitor will not. Price discrimination is less common with monopolists than with monopolistic competitors. A monopolist would never react to the imposition of a tax on its product by reducing its price, but a monopolistic competitor might. There are many firms in monopolistic competition and only one in monopoly