Question: attached: Question 53 1 pts Assume Figure 10.1 represents the conditions facing a monopolistically competitive firm. When new firms enter the industry, what should happen

attached:

Question 53 1 pts Assume Figure 10.1 represents the conditions facing a monopolistically competitive firm. When new firms enter the industry, what should happen in the graph? Figure 10.1 MC 25 AVC 20 10 20 25 Q Demand becomes flatter but marginal revenue stays the same O Demand becomes steeper and marginal revenue also becomes steeper Demand and marginal revenue become a flat line as soon as any new firms enter O Demand becomes steeper but marginal revenue stays the same O Demand becomes flatter and marginal revenue also becomes flatter

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