Ayushi Asked a Question
August 11, 2020 12:23 pmpts 30 pts
The monopolistically competitive seller's demand curve will become more elastic the (1) larger the number of competitors (2) smaller the number of competitors (3) greater the degree of product differentiation (4) more significant the barriers to entering the industry
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  • Nidhi taparia Best Answer
    The correct option is (1). As the number of competitors will rise, demand curve will become more elastic because then each firm has lesser and lesser control over the price. A sli...
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