In the model of monopolistic competition, if firms have average cost curves that_ the quantity sold, then opening trade will the total number of firms and average price. slope down; decrease; increase slope down; increase; decrease slope down; decrease; decrease slope up; decrease; increase with the

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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please explian the answers to these two in deatil 

In the model of monopolistic competition, if firms have average cost curves that_
the quantity sold, then opening trade will
the total number of firms and
average price.
slope down; decrease; increase
slope down; increase; decrease
slope down; decrease; decrease
slope up; decrease; increase
with
the
Transcribed Image Text:In the model of monopolistic competition, if firms have average cost curves that_ the quantity sold, then opening trade will the total number of firms and average price. slope down; decrease; increase slope down; increase; decrease slope down; decrease; decrease slope up; decrease; increase with the
In the model of monopolistic competition, if firms have
the industry.
opening trade will cause
firms to
different; more efficient; enter
different; less efficient; exit
symmetric; less efficient; exit
symmetric; more efficient; enter
average cost curves, then
Transcribed Image Text:In the model of monopolistic competition, if firms have the industry. opening trade will cause firms to different; more efficient; enter different; less efficient; exit symmetric; less efficient; exit symmetric; more efficient; enter average cost curves, then
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