A profit -maximizing firm in a monopolistically competitivemarket differs from a

Question

A profit -maximizing firm in a monopolistically competitivemarket differs from a firm in a perfectly competitive marketbecause the firm in the monopolistically competitive market. a. is characterized by market-share maximization b.has no borriers to entry c.faces a downward-sloping demand curve for its product. d.faces a horizontal demand curve at the market clearingprice. A profit -maximizing firm in a monopolistically competitivemarket differs from a firm in a perfectly competitive marketbecause the firm in the monopolistically competitive market. a. is characterized by market-share maximization b.has no borriers to entry c.faces a downward-sloping demand curve for its product. d.faces a horizontal demand curve at the market clearingprice.

Explanation / Answer

c.faces a downward-sloping demand curve for its product.

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