Introduction to Economics 1 Deneme Sınavı Sorusu #727529
What happens to monopolistically competitive firms in the long run when costumers start consuming new products instead of the old ones?
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Supply curve facing an existing monopolistic firm increases and shifts to the right as new firms enter into the market. |
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Demand curve facing an existing monopolistic firm decreases and shifts to the left as new firms enter into the market. |
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Supply curve facing an existing monopolistic firm increases and shifts to the left as new firms enter into the market. |
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Demand curve facing an existing monopolistic firm increases and shifts to the left as new firms enter into the market. |
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Demand curve facing an existing monopolistic firm decreases and shifts to the right as new firms enter into the market. |
Some consumers may find new products more to their taste and start consuming them instead of old products. This consumer behavior in turn decreases demand for old products. Hence demand curve facing an existing monopolistic firm decreases and shifts to the left as new firms enter into the market. The correct answer is B.
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