Honeybees perform a waggle dance to indicate the direction of
2 answers:
You might be interested in
The demand curve of a monopolistically competitive firm A) is horizontal because the firm must cut its price to sell more.
- The demand curve of a firm that is perfectly competitive is horizontal at the market price.
- As a result, every unit sold will result in it receiving the same price.
- The difference in total revenue from selling one more unit at the constant market price is the marginal revenue that the company receives.
- A monopolistically competitive firm's perceived demand curve slopes downward, indicating that it sets prices and selects a mix of quantity and price.
Why is the demand curve in monopolistic competition more elastic than a monopoly?
Firm's demand curve under monopolistic competition is more elastic than under monopoly because of availability of close substitutes under monopolistic competition.
Learn more about demand curve brainly.com/question/13131242
#SPJ4
