What is the difference between a monopolistically competitive demand curve and a perfectly competitive demand curve

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21-01-2022
Business

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What is the difference between a monopolistically competitive demand curve and a perfectly competitive demand curve

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breannajones511 breannajones511 · Answer 1 · 2022-01-21T16:18:55+01:00

breannajones511 breannajones511

21-01-2022

the demand curve for a perfectly competitive firm is completely elastic and a horizontal line. Monopolistically competitive demand curve is downward sloping and is more elastic than monopoly because there are more substitutes.

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