The demand curve for a monopolistically competitive firm is downward sloping because Group of answer choices a. it is easy for firms to enter or exit the market b. there are a large number of firms c. the marginal cost rises as output produced increases d. the product is produced by using scarce resources e. the products produced by different firms are not identical
The demand curve for a monopolistically competitive firm is downward sloping because Group of answer choices a. it is easy for firms to enter or exit the market b. there are a large number of firms c. the marginal cost rises as output produced increases d. the product is produced by using scarce resources e. the products produced by different firms are not identical
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The demand curve for a monopolistically competitive firm is downward sloping because
Group of answer choices
a. it is easy for firms to enter or exit the market
b. there are a large number of firms
c. the marginal cost rises as output produced increases
d. the product is produced by using scarce resources
e. the products produced by different firms are not identical
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