The Demand Curve for a Monopolistic Competitor Slopes Downward Because

question 116

Multiple Choice

The demand curve for a monopolistic competitor slopes downward because

• A)demand drops to zero after a slight price increase.
• B)there are close but not perfect substitutes for the product.
• C)customers have no loyalty to the product.
• D)the product is undifferentiated.

---

Definitions:

Colorblind Racism

An ideology that denies racial discrimination, assuming equality despite clear racial disparities.

Racism

The perception and treatment of a racial or ethnic group, or member of that group, as intellectually, socially, and culturally inferior to one’s own group.

Cultural Stereotypes

Broadly held beliefs about the characteristics, attributes, and behaviors of members of certain groups based on culture.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, often based on social and cultural constructs.