rahulkandari10

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Economics4

A characteristic of monopolistic competition is that each firm
A) faces perfectly elastic demand.
B) faces a downward-sloping demand curve.
C) has a perfectly elastic supply.
D) has a perfectly inelastic supply.

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rahulkandari10Lv1

7 Jul 2022

Answer: Step-by-step explanation: Faces a downward sloping demand curve

Which of the following is true for a monopolist?

		Being the only seller in the market, the monopolist faces a downward-sloping demand curve that lies below the marginal revenue curve.
		Being the only seller in the market, the monopolist faces a perfectly inelastic demand curve.
		Being the only seller in the market, the monopolist faces the market demand curve.
		Being the only seller in the market, the monopolist faces a perfectly elastic demand curve.