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Question 70

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Use the following to answer questions:
Figure: Monopolistic Competition Use the following to answer questions: Figure: Monopolistic Competition -(Figure: Monopolistic Competition) Refer to the figure. Suppose the figure represents a firm that operates in a monopolistically competitive market. In the long run you would expect: A) prices to increase. B) demand to become more inelastic. C) less quality and innovation. D) more firms to enter the market.
-(Figure: Monopolistic Competition) Refer to the figure. Suppose the figure represents a firm that operates in a monopolistically competitive market. In the long run you would expect:


A) prices to increase.
B) demand to become more inelastic.
C) less quality and innovation.
D) more firms to enter the market.

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