68) One reason Starbucks experienced a decline in sales in the late 2000s is becauseA) the coffeehouse market transitioned from being monopolistically competitive to perfectlycompetitive.B) barriers to entry became more restrictive in the coffeehouse market.C) the number of competitors in the market declined dramatically.D) the product they offered was becoming less differentiated from their competitorsʹproducts.Answer: D68)Diff: 1Page Ref: 440/440Topic: Product DifferentiationLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB:69) The entry and exit of firms in a monopolistically competitive market guarantee that69)Diff: 2Page Ref: 441/441Topic: Long-Run EquilibriumLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB: Reflective Thinking21
70) When new firms are encouraged to enter a monopolistically competitive market70)Diff: 1Page Ref: 437-438/437-438Topic: Entry and ExitLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB: Reflective Thinking
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