What are the "monopolistic" and the "competitive" elements of monopolistic competition? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click twice to empty the box. Similar to a monopoly, a monopolistic competitor: check all that apply 1 can restrict output to increase price (at least in the short run). unanswered has one seller. unanswered faces a downward-sloping demand curve. unanswered can make profits or losses in the short run. unanswered makes economic profits in the long run. unanswered produces where P > MR = MC. unanswered faces high barriers to entry