EOC 17.05 (and 17.06) Which of the following defines business-stealing externality? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a It is the positive externality consumers receive from having higher product variety. b It occurs when one business attempts to duplicate the product of a different business. It is considered to be an explicit cost of business in monopolistically competitive markets. d It is the negative externality associated with entry of new businesses in a monopolistically competitive market. Unanswered Save EOC 17.03 (and 17.04) If businesses in a monopolistically competitive market are experiencing economic profit, which of the following scenarios would best reflect the change facing existing businesses as the market adjusts to the long run equilibrium? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer, a a shift left in the demand curve of existing businesses. b a shift right in the demand curve of existing businesses. C an upward shift in the marginal-cost curve of existing businesses. d a downward shift in the marginal-cost curve of existing businesses