Use the following to answer questions :
Figure: Profit Maximization in Monopolistic Competition 
-(Figure: Profit Maximization in Monopolistic Competition) Use Figure: Profit Maximization in Monopolistic Competition.In panel (a) of the figure,if the firm raises its price above P,it will _____ customers.
Definitions:
Taboo
Social or cultural prohibitions against certain practices, topics, or words deemed unacceptable or offensive by a community or society.
Folkway
Socially accepted norms or patterns of behavior that, while not moral imperatives or laws, guide everyday interactions and practices within a culture.
Sanction
A threatened penalty for disobeying a law or rule, or an official approval or endorsement of an action.
Informal Norm
Unwritten and unofficial rules and behaviors that are understood and followed by members of a society without formal instruction.
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