Monopolistic competition is similar to perfect competition in that: 0 there are only a few firms in the market. Q the entry into and exit from the market is easy. 0 there are significant barriers to entry in the market Q each firm sells a homogeneous product. Question 10 (1 point) If all firms in a monopolistically competitive market are incurring losses, then eventually: Q the demand for the products in the market will increase. Q the supply of the products in the market will increase. 0 the price of the products in general will decline. 0 the firms will exit until the existing ones just break even