Which Is True About the Demand Curve of a Monopolistically

question 247

Multiple Choice

Which is true about the demand curve of a monopolistically competitive firm?

• A)Is horizontal because the firm must cut its price to sell more.
• B)Is perfectly elastic.
• C)Is downward sloping because it sells an identical product.
• D)Is downward sloping because it must cut its price to sell more.

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Definitions:

Four Ps

A marketing mix model that encompasses product, price, place, and promotion strategies in a business.

Marketing

is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing Channel Structure

The organized framework of intermediaries and components through which a product or service moves from producer to end consumer.

Vertical Channel Conflict

A type of channel conflict in which members of the same marketing channel, for example, manufacturers, wholesalers, and retailers, are in disagreement or discord.