The Demand Curve Facing a Monopolistically Competitive Firm Is Quite

question 36

Multiple Choice

The demand curve facing a monopolistically competitive firm is quite elastic because

• A)there are many close substitutes to the good the firm is producing.
• B)goods that are complements to the good the firm is producing also have elastic demand curves.
• C)of the possibility of entry of new firms.
• D)the industry is producing a homogeneous product.
• E)firms are not behaving strategically.

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