13. Monopolistic Competition
Revenue in Monopolistic Competition
Multiple Choice
Multiple ChoiceWhich of the following statements is true?
A
A monopolistically competitive firm's demand curve is equal to the market demand curve.
B
For a monopolistically competitive firm, an increase in the quantity sold will always increase total revenue.
C
The barriers to market entry in perfect competition are more stringent than those for monopolistic competition.
D
A monopolistically competitive firm's marginal revenue is less than its average revenue.
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