Each firm in a monopolistically competitive industry faces a downward-sloping demand curve because

a. there are many other sellers in the market.
b. there are very few other sellers in the market.
c. the firm's product is different from those offered by other firms in the market.
d. the firm faces the threat of entry into the market by new firms.

c

Economics

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A natural monopoly is based on economies of scale

a. True b. False

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If real GDP and the GDP deflator both rise, then it must be that nominal GDP rose

a. True b. False Indicate whether the statement is true or false

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