The monopolistically competitive seller's demand curve will tend to become more elastic the
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Thank you for this interesting question.
A monopolistically competitive market is a market with many competitors trying to enter the market and create their monopoly.
A monopolistically competitive seller's demand curve would become more elastic when there is a large number of competitors in the market.
This is so because it would affect the price of the goods and hence the elasticity of demand of the product.
A monopolistically competitive market is a market with many competitors trying to enter the market and create their monopoly.
A monopolistically competitive seller's demand curve would become more elastic when there is a large number of competitors in the market.
This is so because it would affect the price of the goods and hence the elasticity of demand of the product.
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Answer:
Monopolistically market is that type of market many sellers enter the market create their monopoly in the products they sell.
Monopolistically sellers demand curve would tend to be more elastic when there is a large number of competitors in the market.
Explanation:
This is due to it affecting the price of the goods and therefore, the elasticity of the demand of the product.
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