When new firms enter a monopolistically competitive industry: a. ...

[khang]

When new firms enter a monopolistically competitive industry:
 a. the average total cost curves of established firms will shift downward.
 b. the demand curve of an established firm is reduced at each level of output.
 c. the established firms will each increase production.
 d. the average revenue received by an established firm will increase at each level of output.

Question 2

Fixed exchange rates allow countries to formulate their economic policies independent of other nations.
 a. True
  b. False
  Indicate whether the statement is true or false

[Natalie4ever]

Answer to Question 1

b

Answer to Question 2

False

[khang]

Correct answers!

[Natalie4ever]

Great! Please up vote