If new firms enter a monopolistically competitive industry, an individual firm's demand curve will _____________ (increase/decrease).

In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the buyers was larger than the effect on the sellers

Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) rise; an increase B) rise; a decrease C) fall; a decrease D) fall; an increase

Refer to the figure above. What is the quantity supplied in the market when the market is supplied by one firm?

A) 30 units B) 45 units C) 60 units D) 90 units