We can allow for full price/wage flexibility in a Calvo price/wage-setting by assuming there is 0 probability of not being able to re-optimize. Thus, all firms and/or all households re-optimize their prices and wages in each period, respectively.
But this does not mean we have perfect competition, right? Since households still have monopoly power over their wages and firms still have monopoly power over the prices they set.
So we can have monopolistic competition in a fully flexible economy which is different from perfect competition in a fully flexible economy (without Calvo pricing), right?