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If the Market Served by a Monopolistically Competitive Industry Expands

Question 204

Multiple Choice

If the market served by a monopolistically competitive industry expands, a likely result in the long run will be


A) less elastic demand curves facing each firm.
B) a higher ratio of price to average cost.
C) a larger number of firms producing a similar product.
D) a transition from monopolistic competition to oligopoly.

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