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.