-The Above Figure Shows the Demand and Cost Curves for a Firm

question 284

Multiple Choice

-The above figure shows the demand and cost curves for a firm in monopolistic competition. In the long run, the demand for this firm's product will

• A) decrease as other firms enter the industry.
• B) decrease as product differences disappear.
• C) become less elastic as firms exit the industry.
• D) become less elastic as other firms enter the industry.

---

Definitions:

Brown Algae

A group of photosynthetic, multicellular marine algae, including species like kelp, that are typically brown in color due to the presence of carotenoid pigments.

Single-Celled

Referring to organisms that consist of only one cell, carrying out all the functions necessary for life.

Dinoflagellates

A phylum of microorganisms found in marine and freshwater environments, known for their ability to conduct photosynthesis and for some species, to produce bioluminescence and harmful algal blooms.

Alveolates

A group of protists characterized by the presence of alveoli, small sacs underneath their cell membranes.