Refer to the Following Graph to Answer the Following Questions

question 13

Multiple Choice

Refer to the following graph to answer the following questions:

-In the long run,the demand curve for the monopolistically competitive firm would

• A) shift leftward.
• B) remain the same,causing the entry of new firms to be impossible.
• C) shift rightward.
• D) move closer to the marginal revenue curve,but the marginal revenue curve would be held constant.
• E) shift rightward,causing the entry of new firms into the industry.

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Definitions:

Stock Market

A public market for the trading of company stocks and securities, facilitating capital growth for listed companies and investment opportunities for individuals.

Total Revenue

The total amount of income generated by the sale of goods or services before any expenses are subtracted.

COGS

Cost of Goods Sold, which refers to the direct costs attributable to the production of the goods sold by a company.