The price elasticity of demand for the monopolistic rival company's product is steeper than that for the perfectly competitive firm, the demand curve facing a monopolistic competitor seller will be lower than the demand curve facing a perfectly competitive firm.
A demand curve is a graphic representation of the relationship between product price and quantity demanded in economics. The price is plotted on the vertical axis, while the amount demanded is plotted on the horizontal.
The demand curve is commonly represented as sloping downward from left to right because price and quantity demanded are inversely related.
Thus, the right option are steeper and lower.
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