The demand curve for a monopolistic competitor slopes downward because:
a. quantity demanded 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 not differentiated in any way from those offered by other sellers.

b

Economics

You might also like to view...

The California gold rush resulted in an increase in the amount of money in circulation and an increase in prices across the country

Indicate whether the statement is true or false

View
Economics

Indirect incentive

What will be an ideal response?

View
Economics