Under monopolistic competition, an increase in the number of firms producing close substitutes will make the demand curve of each firm

Related MCQs

• Firms in monopolistic competition in long run equilibrium ________ than firms in perfect competition.
• If the Average Total Cost curve of a firm in monopolistic competition happens to be above the demand curve, it means:
• Demand curve of a firm under monopolistic competition is
• If a firm sells its output on a market that is characterized by a single seller and many buyers of a homogeneous product for which there are no close substitutes and barriers to long-run resource mobility, then the firm is
• If firms in monopolistic competition are enjoying positive economic profits, in the long run
• It is assumed that the cost curves of all the firms in the monopolistic competition are
• In short run a firms in monopolistic competition
• In long run all the firms in the monopolistic competition
• When a group of monopolistic competition attains the equilibrium, the firms in the group
• In the long run, which of the following is applicable to a firm under monopolistic competition