Ayushi Asked a Question
August 12, 2020 8:31 pmpts 30 pts
Tne 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 answer is (1). A seller's demand becoming more elastic implies that the seller now has lesser control over the price. This is because when demand is more elastic, cons...
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