When firms enter a monopolistically competitive market:
a. product variety diminishes
b. the demand curves of established firms shift to the right.
c. prices fall.
d. profits increase.
c
Economics
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________ describes the actions a firm takes to maintain the differentiation of its product over time
A) Brand management B) Product differentiation C) Advertising D) Aggressive marketing
Economics
If on Tuesday the perceived price of studying for an exam is $4 per hour but on Saturday the perceived price of studying for an exam is $10, the law of demand predicts
A) more studying on Saturday and less on Tuesday. B) more studying on Tuesday and less on Saturday. C) the same amount of studying on Tuesday and Saturday. D) no studying on Tuesday or Saturday.
Economics