When a new firm enters a monopolistically competitive market, the individual demand curves faced by all existing firms in that market will
a. shift to the left.
b. shift to the right.
c. shift in a direction that is unpredictable without further information.
d. remain unchanged. It is the supply curve that will shift.
a
Economics
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A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At what price will this firm sell the output?
A) $19 B) $38 C) $285 D) $570 E) There is not enough information given to answer the question.
Economics
In the figure above, income
A) is most equally distributed in country A. B) is most equally distributed in country B. C) is most equally distributed in country C. D) is equally distributed in all three countries.
Economics