Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:Firm’s demand curve under monopolistic competition is more elastic than under monopoly.
Answer» Yes. Firm’s demand curve under monopolistic competition is more elastic than under monopoly because of availability of close substitutes under monopolistic competition.

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