The Demand Curve for the Product of a Monopolistically Competitive

question 292

Multiple Choice

The demand curve for the product of a monopolistically competitive firm slopes downward because

• A) products are perceived by consumers as different.
• B) products are homogeneous.
• C) people only care about price when they buy a good.
• D) the firm's goal is to maximize profits.

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, thus holding partial ownership and potentially influencing company decisions.