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QUESTION

Which of the following would be classified as a differentiated product produced by a monopolistic competitor?

Which of the following would be classified as a differentiated product produced by a monopolistic competitor?

Corn at a roadside vegetable stand

water

Big Mac sandwiches

The demand curve faced by a perfectly competitive firm is:

Slightly downward-sloping and somewhat elastic

Flat and perfectly elastic

Downward-sloping and inelastic

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