Figure 16-2 -Refer to Figure 16-2.The Graph Depicts a Monopolistically Competitive Firm

question 22

Multiple Choice

Figure 16-2
-Refer to Figure 16-2.The graph depicts a monopolistically competitive firm in the short run.Which of the following explanations best decribes the long run adjustment?

• A) More firms will enter this market and each firm will have a smaller share of the total market demand,shifting this firm's demand curve to the left.
• B) More firms will enter this market and each firm will have a larger share of the total market demand,shifting this firm's demand to the right.
• C) Firms will exit this market and each firm will have a smaller share of the total market demand,shifting this firm's demand to the left.
• D) Firms will exit this market and each firm will have a larger share of the total market demand,shifting this firm's demand to the right.

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