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5 true/false question do carefully thanks 1.In the monopolistic competiton model, the firm's demand curve is a horizontal line.
5 true/false question do carefully thanks
1.In the monopolistic competiton model, the firm's demand curve is a horizontal line.
2.If a two monopolists agree to collude, this will increase the allocative inefficiency in the market.
3.The standard economic view of monopolistic competition is that, it is inefficient, since the choice and variety of different types of products confuse consumers.
4.If firms in an industry have different brands, then the market is most likely to be characterized by Perfect Competition.
5.In the monopolistic competition model, the existence of brands makes demand curves faced by any one seller upward sloping.
