The monopolist and the perfect competitor are similar in that

A) both operate at the minimum of the ATC curve.
B) both have close substitutes.
C) both types of markets have no barriers to entry.
D) both produce at an output level where MC = MR.

MC = MR

A condition where a firm's marginal cost (MC) of producing an additional unit is equal to the marginal revenue (MR) gained from selling that unit, used to determine profit maximization.

Perfect Competitor

An idealized market scenario where numerous buyers and sellers interact, leading to the best products at the lowest prices due to competition.

Monopolist

An individual or company that is the sole supplier of a particular good or service, allowing them to control the market price.