A firm in pure competition would shut dowThe Which of the following is a source of market power for a monopolist? a. a firm may have a patent or copyright b. a firm may control critical resources c. a firm may have a government-authorized franchise d. a firm may enjoy economies of scale e. all of the above are sources of market power for a monopolistmain difference between perfect competition and monopolistic competition is: a. The number of sellers in the market b. The ease of entry and exit in the industry c. The degree of information about market price d. The degree of product differentiation e. Whether it is the short run or the long runn when: a. price is less than average total cost b. price is less than average fixed cost c. price is less than marginal cost d. price is less than average variable cost