The demand curve for a monopolistic competitor slopes downward because
a. demand drops to zero after a slight price increase.
b. there are close but not perfect substitutes for the product.
c. customers have no loyalty to the product.
d. the product is undifferentiated.
b
Economics
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The figure above shows Sam's budget line. Which of the following combinations of gasoline and coffee are not available to Sam?
A) 40 gallons of gasoline and 0 pounds of coffee B) 32 gallons of gasoline and 4 pounds of coffee C) 8 gallons of gasoline and 8 pounds of coffee D) 16 gallons of gasoline and 16 pounds of coffee
Economics
Average labor productivity is the
A) amount of workers per machine. B) amount of machines per worker. C) ratio of employed to unemployed workers. D) amount of output per worker.
Economics