In general, the demand for the product of a monopolistic competitor is

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The demand for the product of a monopolistic competitor is relatively elastic because they produce differentiated products. There are close substitutes available in the market, so consumers have the option to switch to other brands/products. As a result, a small change in price can lead to a significant change in the quantity demanded of the product. Therefore, the demand for the product of a monopolistic competitor is relatively elastic.

In General, the Demand for the Product of a Monopolistic