A good example of a monopolistically competitive industry is Select one: O a. the public utility industry. O b. the restaurant industry. O c. diamond mining. O d. the local cable industry. Which of the following is a characteristic of a monopoly market? Select one: O a. The firm is a price taker. O b. many suppliers of similar products O c. one single seller O d. easy entry In perfect competition, the product of a single firm Select one: O a. has many perfect substitutes produced by other firms. O b. is sold under many differing brand names. O c. is sold to different customers at different prices. O d. has many perfect complements produced by other firms. Price Price Price Quantity Panel A Quantity Panel B Quantity Panel C Refer to the above figure. Which of the following statements is TRUE about the demand curves for an individual firm in a perfectly competitive industry and a monopoly? Select one: a. Panel C is the demand curve for a perfectly competitive firm and panel A is the demand curve for a monopoly. O b. Panel C is the demand curve for a perfectly competitive firm and panel B is the demand curve for a monopoly. O cPanel B is the demand curve for a perfectly competitive firm and panel A is the demand curve for a monopoly. O d. Panel A is the demand curve for a perfectly competitive firm and panel B is the demand curve for a monopoly