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

Monopolistically competitive market is the one where many forms sell differentiated goods to make…

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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the model of monopolistic competition, if firms have _______ average cost curves, then opening trade will cause _______ firms to _______ the industry.

Options:
- ○ different; more efficient; enter
- ○ different; less efficient; exit
- ○ symmetric; less efficient; exit
- ○ symmetric; more efficient; enter

In the model of monopolistic competition, if firms have average cost curves that _______ with the quantity sold, then opening trade will _______ the total number of firms and _______ the average price.

- ○ slope down; decrease; increase
- ○ slope down; increase; decrease
- ○ slope down; decrease; decrease
- ○ slope up; decrease; increase

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