The downward-sloping demand curve for a monopolistically competitive firm:
A) reflects product differentiation.
B) eventually will become perfectly elastic as more firms enter.
C) indicates collusion among firms in the industry.
D) ensures that the firm will produce at minimum average cost in the long run.
Correct Answer:
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A)free entry and
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Q6: In monopolistic competition:
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A)is a price taker.
B)has
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