Final answer:
A monopolist typically advertises less than a monopolistically competitive firm because they do not face direct competitors. Firms in monopolistic competition need to advertise more to differentiate their products and affect their demand curve, potentially increasing sales or prices.
Therefore, option B is correct.
Step-by-step explanation:
A monopolist is likely to advertise less than a monopolistically competitive firm. Monopolists face a market demand curve as the sole provider of a particular product, and while advertising can inform or remind consumers about their product, they don't need to advertise to the same degree as firms in monopolistically competitive markets, for there is no direct competition. In contrast, firms in monopolistic competition must continually advertise to differentiate their products from those of competitors and to influence their demand curve—which could either become more inelastic or shift to the right, leading to increased sales or the ability to charge a higher price.
For example, suppose a monopolistic competitor launches a successful advertising campaign; this will likely increase the demand for their product, allowing them to both sell at a higher price and supply a greater quantity. However, a monopolist, without competition, already controls a significant portion of the market and may find it unnecessary to invest heavily in advertising to maintain its market position, unless the advertising serves a strategic purpose, like entering new markets or launching new products.