Question
The market demand curve for monopolistic competition is flatter than the demand curve for monopoly. State true or false.
Answer: Option A
:
A
In case of monopolistic competition, the demand is more elastic as competition is more i.e. products have more substitutes. Hence, the demand curve is flatter.
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:
A
In case of monopolistic competition, the demand is more elastic as competition is more i.e. products have more substitutes. Hence, the demand curve is flatter.
Was this answer helpful ?
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