Question

7. Demand curve of a firm is also known as__________
curve under monopolistic competition​

Answer 1

Explanation:

A monopolistic competitive firm's demand curve is downward sloping, which means it will charge a price that exceeds marginal costs. The market power possessed by a monopolistic competitive firm means that at its profit maximizing level of production there will be a net loss of consumer and producer surplus.

Answer 2

Answer:

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