In the Model of Monopolistic Competition,an Increase in Industry Output

question 56

Multiple Choice

In the model of monopolistic competition,an increase in industry output will ________ market shares and ________ profits of producers of higher-priced goods and will ________ market shares and ________ profits of producers of lower-priced goods.

• A) reduce; reduce; increase; increase
• B) increase; increase; reduce; reduce
• C) increase; reduce; increase; reduce
• D) reduce; increase; reduce; increase
• E) reduce; increase; increase; reduce

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Definitions:

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