Answer:
a
Explanation:
In a monopolistically competitive industry, price is most likely a bit higher than the competitive market price because of the cost of variety.
In a monopolistically competitive market, firms tend to set their prices to be higher than those of the marginal cost. This invariably translates to the fact that market is never really able to be productively efficient.
Firms in monopolistically competitive markets tend to wield the same power, since they're all price makers, they have a low degree of market power.
