What is the difference between the demand curve for a product in monopolistic competition and of a perfect competitive firm?

Simply put, the difference is that with perfect competition, all firms are price-takers. So they'll accept whatever market price it happens to be. And all sell that that same price. So we're dealing with a perfectly elastic demand curve where the price = MR = AR.

However, with monopolistic competition, firms are not price-takers! And that means that price is not equal to MR and not equal to AR. So their demand curves are downward sloping.

A perfectly competitive firm is a price taker. This means that they assume they can sell as much as they want at a fixed price. Therefore, their demand curve is a horizontal line; their demand is perfectly elastic.

In contrast, a monopolistically competitive firm faces a downward-sloping demand curve.

Do Christians believe in one god?

Ahh! that old saw. Lets see; they say they believe in monotheism. But some cleric ‘cooked up' the Trinity baloney, which made X-tains pantheists. Whoops ! mistake. Lets mix up the three gods, then divide god into three parts, and call him/her/it one god. It makes as much sense as a ‘screen door in a

What is the most bizarre life we might imagine finding elsewhere in the universe?

Thanks for the A2A.There have been some very nice, creative examples of ‘alien' aliens in fiction. Things like entities made of pure energy, sentient planets, hive minds, symbiotic intelligences, silicon animals, creatures that live in the vacuum of space or in stars