The company's product is distinct from what other companies in the market are selling.
Each company in a monoplistically competitive market has a downward-sloping demand curve since its product is unique from what other companies in the market are selling.
What is Monopolistic competition?
- The ability of a monopolistically competitive corporation to differentiate its products may be the main reason why it experiences a downward-sloping request bend rather than a horizontal demand bend.
- This suggests that these businesses may cultivate a sense of fervor for their goods. Therefore, even while a small percentage of requests are misdirected as a result of the increased expenses, not all of them are.
- With monopolistic competition, there are many buyers and dealers. Here, we see a downward-sloping request bend, in contrast to idealized competition, which has even person request bends.
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