The firm may make a profit indefinitely

The firm’s SMC curve and its LMC curve will both intersect its MR curve at its chosen output.

The firm’s SAC curve will intersect its LAC curve at its chosen output

If the firm suddenly started to worry about the prospect of new entrants, it might decide to reduce its price

It faces a downward sloping demand curve

Its demand curve, and those for its competitors, may all be in different positions

It will produce at the output where its MR and SMC curves intersect, provided it would make either a profit or a loss that was less than its total fixed cost.

It supply curve is part of its marginal cost curve

The firm will just break even

The firm’s SMC curve and its LMC curve will just touch each other at its chosen output.

The firm’s SAC curve and its LAC curve will just touch each other at its chosen output.

The firms AR curve and its SAC curve will just touch each other at its chosen output

There are many firms in monopolistic competition and only one in monopoly.

The monopolist may make a profit in the long run whereas the monopolistic competitor will not

Price discrimination is less common with monopolists than with monopolistic competitors

A monopolist would never react to the imposition of a tax on its product by reducing its price, but a monopolistic competitor might

Firms in these industries may attempt to cooperate.

Firms in these industries are interdependent.

The fact that there is more than one firm in an oligopoly means that there are no barriers to entry.

An oligopoly with two firms is called a duopoly