Which statement is true?

A) Many monopolistic competitors are very large firms.
B) Many monopolistic competitors practice perfect price discrimination.
C) Monopolistic competitors don't really compete.
D) None of these statements are true.

Monopolistic Competitors

Firms in a market structure where there are many producers selling products that are similar but not identical, allowing for a degree of market power and some control over prices.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed that the buyer is willing to pay, capturing all available consumer surplus.

Large Firms

Companies that are significantly larger than the average for their industry, often having considerable influence over market conditions and prices.