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.

To know more about the features of the various markets, refer to the link below:

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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.

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