If the Market for Products Produced by Firms in a Monopolistically

question 62

Multiple Choice

If the market for products produced by firms in a monopolistically competitive industry becomes ________, then there will be ________ firms and each firm will produce ________ output and charge a ________ price.

• A) smaller; fewer; less; higher
• B) smaller; fewer; less; lower
• C) smaller; more; less; lower
• D) smaller; more; less; higher
• E) smaller; fewer; more; higher

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