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The demand curve faced by the a monopolistically competitive firmis very elastic if the degree of product differentiation is

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Question:

The demand curve faced by the a monopolistically competitive firmis very elastic if the degree of product differentiation is

A.

Very low

B.

Very high

C.

Zero

D.

Moderate

Answer» b. Very high

Note: The above multiple-choice question is for all general and Competitive Exams in India.