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

Each firm makes an assumption about how much the other will produce, and sets its own output at the level which will maximize its profit if the other firm behaves as assumed

Each firm has a reaction curve showing its chosen output for different outputs that the other might set

The equilibrium is where the reaction curves intersect

If the duopolists produce homogeneous products, then the equilibrium price will be the same as if the industry had a monopoly