Monopolistically competitive markets generally keep prices much lower than a monopoly; nevertheless, they are not as low as in perfectly competitive markets because:
a. the many brands in a monopolistically competitive market mean that economies of scale (and lower costs) are harder to realize.
b. monopolistically competitive firms produce products that are identical to those produced by other firms.
c. most consumers prefer the higher priced products produced by firms in monopolistically competitive industries.
d. there are few firms in perfectively competitive markets, so prices are lower.