Nopolistic Competition Is False Long Run Equilibrium Under Monopolistic Competit (1)

Which statement concerning monopolistic competition is false?

Long-run equilibrium under monopolistic competition and pure competition both entail zero economic profits for firms?

Monopolistic competition is likely to result in a greater variety of product brands than pure competition.

The monopolistically competitive demand curve is more elastic than the demand curve facing a monopoly.

Long-run equilibrium in monopolistic competition does not entail any economic inefficiency because of easy entry and exit.

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