Answer:
a. is more elastic than the monopolist's demand curve.
Explanation:
The correct option is a as of less control over the market price as compared to the monopolist
As the monopolist is the only seller in the market and the price maker too but the same is not happen with the monopolistic firm
Therefore the consumers would rise or decreased the demand as per the price
Hence, the correct option is a.
The demand curve faced by a monopolistically competitive firm is more elastic than the monopolist's demand curve.
A monopolistically competitive firm is a firm where there are many sellers and buyers of differentiated goods. Sellers set the price for their goods and services. A monopolistically competitive firm engages in advertising in order to attract consumers.
The demand curve in a monopolistically competitive firm is downward sloping. This means that price is negatively related to the quantity demanded. An example of a monopolistically competitive firm are restaurants.
A monopoly is when there is only one firm in the industry. The demand curve is perfectly inelastic.
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