The Demand Curve for a Monopolistically Competitive Firm Slopes Downward

question 12

Multiple Choice

The demand curve for a monopolistically competitive firm slopes downward because:

• A)the demand for the product drops to zero after a slight price increase.
• B)the product has close substitutes produced by competing firms.
• C)there is a very little brand loyalty towards a single firm's product.
• D)customers are not influenced by advertising.
• E)buyers are not sensitive to changes in the price of the product.

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