00:01
Okay, so i see that you need help with this.
00:03
And so number one, in both perfect competition and monopolistic competition, each firm is what? so each firm is a, has many competition, competitors.
00:40
Number two, monopolistic competition is characterized by which of the following attributes? so free entry, product differentiation, many sellers.
01:36
And for number two, free entry is characterized by monopolistic competition, allowing for new firms to enter the market if they're opportunity for profit.
01:57
Product differentiation is a defining feature of monopolistic competition, and so is many sellers.
02:06
So the answer would be c, one, two, and three...