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.
Answer: A
Economics
You might also like to view...
The see-through office building, and the boarded-up factory outlet mall may be attributed to
A) changing conditions which no longer justify the project for which the buildings were produced. B) deregulation of S & Ls. C) extreme business optimism. D) all of the above.
Economics
Distinguish between a movement along the aggregate supply curve and a shift of the entire aggregate supply curve. What factors cause each to occur?
Economics