Monopolistically competitive product markets are inefficient because price equals the marginal value to the buyer of the last item produced Answer A: price equals the marginal value to the buyer of the last item produced A price is greater than marginal cost Answer B: price is greater than marginal cost B excessive competition prevents other firms from entering the market Answer C: excessive competition prevents other firms from entering the market C homogeneous goods are usually overpriced Answer D: homogeneous goods are usually overpriced D short-run economic profit-making opportunities exist