Multiple Choice
The greater the the number and closeness of substitutes available between monopolistically competitive firms
A) the greater the ability of a firm to raise its price above the price of close substitutes.
B) the smaller the ability of a firm to raise its price above the price of close substitutes.
C) the more inelastic the demand curve.
D) the greater the positive economic profits for a single firm.
Correct Answer:
Verified
Correct Answer:
Verified
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