Answer:
The correct answer is option C, firms face downward-sloping demand curves, and the products competitors sell are differentiated
Explanation:
In monopolistically competitive market all companies sell distinguished products. In this market all companies face downward sloping demand curve. These are the expectations of monopolistically competitive market. Therefore, option C is correct.
Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as economizing behavior.
<h3>What is Economics?</h3>
Economics is a social science that examines the decisions that people, businesses, governments, and nations make regarding the distribution and consumption of products and services.
Economics is the study of how individuals divide up finite resources between individual and group uses for production, distribution, and consumption.
Economics has two subfields: macroeconomics and microeconomics. Efficiency in exchange and production is the main focus of economics. Both the Consumer Price Index (CPI) and the Gross Domestic Product (GDP) are frequently used economic statistics.
To spot prospective trends or predict the future of the economy, economists use economic indicators like the GDP and the consumer price index.
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An incentive that interest groups engage in to overcome the free rider problem is packaging a selective incentive, <span>a private good available to members only, with public goods produced by the interest </span>group. This type of packaging is also used by American Association of Retired Persons or ARRP and other interest groups.<span> </span>
In the elastic portion of the demand curve.
