What makes the monopolistic competition model different from the monopoly model? Explain how the differences affect short- and long-run equilibrium.

Use the following Payoff Matrix for Company A and Company B, the only two companies that produce widgets, to answer the following questions. Your response should be at least 150–225 words  in length.

What makes the monopolistic competition model different from the monopoly model? Explain how the differences affect short- and long-run equilibrium. Your response should be at least 75 words .