Briefly differentiate between the market structure of an Monopolist Competitionand and Perfect Competition for the following characteristics:

Briefly differentiate between the market structure of an Monopolist Competition and and Perfect Competition for the following characteristics: Type your answer in the column provided below. [Answer here] Characteristic Monopolist Competition Perfect Competition a) Meaning of each market structure b) Number of firms [1] c) Product differentiation d) Competition e) Basis of price setting