What are the key trade offs of imperfect competition? Group of answer choices The monopolistically competitive market structure provides powerful incentives for innovation, but the strongest firms in a monopolistically competitive market become oligopolists. The monopolistically competitive market structure allows firms to achieve economic profit in the short run, but the individual firms all face perfectly elastic demand curves. The monopolistically competitive market structure fails to achieve allocative efficiency, but the firms all face perfectly elastic demand curves. The monopolistically competitive market structure provides powerful incentives for innovation, but they never achieve productive efficiency in the long run