[Solved] Which of the Following Statements Concerning a Monopolistically Competitive Industry

Question 35
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Which of the following statements concerning a monopolistically competitive industry is correct?


A)If there are short-run losses,firms will exit from the industry and the demand of the remaining firms will decrease.
B)If there are short-run losses,firms will exit from the industry and the demand of the remaining firms will increase.
C)If there are short-run profits,firms will exit from the industry and the demand of the remaining firms will increase.
D)If there are short-run profits,firms will enter the industry and the demand of the remaining firms will increase.

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