In monopolistic competition,the firm can increase price and still sell some output because
A) there is no free entry.
B) they are producing a product for which there is no close substitute.
C) they are colluding with other firms to set price.
D) they are producing a product that has some degree of differentiation.
Correct Answer:
Verified
Q23: The demand curve facing a monopolistically competitive
Q24: Q25: The feature that distinguishes monopolistic competition from Q26: For monopolistically competitive firms in long-run equilibrium,
A)
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