Answer:
Downward sloping; more elastic
Explanation:
Demand curve is a curve that shows the relationship between price and quantity demanded.
The demand curve of a monopolistic competitor is DOWNWARD-SLOPING.
A monopolistic competitive firm can either raise price and lose few customers or reduce price and gain some more customers.
A monopolistic competitive firm
has a more ELASTIC demand.
Elasticity of demand is the degree of responsiveness of demand to a change in price, income and price of other commodities.
Perfectly Competitive market have the following characteristics;
1) Prices are determined by the forces of demand and supply.
2) They are price takers because a single firm can't control the market.
3) Easy entry and exit.
4) Many buyers and many sellers.
5) Identical product are sold
Monopolistic Competitive market have the following characteristics;
1) There are many buyers and many sellers.
2) Firms have market control.
3) Free entry.
4) Close substitute goods are sold.
