4 years ago

Monopolistic competition is similar to monopoly because

Business

1 answer:

docker41 [41]4 years ago

6 0

Answer:

B. in both industry structures, the firm's demand curve is downward sloping.

Explanation:

Both firm types have a downward sloping demand curve which indicates that as price is increased, quantity demanded falls.

Monopolistic competition have no barriers to entry while a monopoly does.

Monopolistic competition have many sellers while a monopoly has one seller.

Monopolistic competition break even in the long run while monopoly maintain super normal profits in the long run

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