The demand curve facing a monopolistic competitive firm will be than the demand curve facing a perfectly competitive firm, because the price elasticity of demand for the monopolistic competitive firm's product is than that for the perfectly competitive firm.

The exchange of offerings that occurs as a response of buyers and sellers coming into touch with one another, either directly or through mediating agents or agencies, is referred to as a market.

The answers for the blank are Downward sloping and more elastic

The link between price and quantity required is indicated by the demand curve.

A hegemonic supplier's quantity supplied is DOWNWARD-SLOPING.

A monopolistically market company can either raise prices and lose a few consumers, or lower prices and win many.

A much more Elastomer market allows in a monopolistically market business.

Price elasticity pertains towards how adaptable consumption is to price changes, income, and the price of other goods.

The criteria of a perfect competition market. in terms:

1) The market forces affect prices.

2) They are price takers since the marketplace cannot be dominated by a single enterprise.

3) It's effortless to get in and out.

4) There are a lot of buyers and sellers.

5) Merchandise that is equivalent are supplied.

Monopoly power market has the below-depicted features:

1) There are many buyers and sellers in a competitive market.

2) Market control is exercised by firms.

3) Free admission.

4) Products that seem to be substitute goods are supplied.

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Downward sloping; more elastic

Explanation:

Demand curve is a curve that shows the relationship between price and quantity demanded.

The demand curve of a monopolistic competitor is DOWNWARD-SLOPING.

A monopolistic competitive firm can either raise price and lose few customers or reduce price and gain some more customers.

A monopolistic competitive firm

has a more ELASTIC demand.

Elasticity of demand is the degree of responsiveness of demand to a change in price, income and price of other commodities.

Perfectly Competitive market have the following characteristics;

1) Prices are determined by the forces of demand and supply.

2) They are price takers because a single firm can't control the market.

3) Easy entry and exit.

4) Many buyers and many sellers.

5) Identical product are sold

Monopolistic Competitive market have the following characteristics;

1) There are many buyers and many sellers.

2) Firms have market control.

3) Free entry.

4) Close substitute goods are sold.