Figure: Monopolistic Competition $1$Two graphs show the M R$,$ M C$,$ and D lines for countries X and Y$.$ In the graph for country X$,$ the vertical axis represents P and marks the values a$,$ b$,$ and d from top to bottom. The horizontal axis represents Q$.$ A negative sloping line labeled D starts from point a on the vertical axis and meets the horizontal axis at its right end. Another line labeled M R starts from point a and has a steeper negative slope than line D$.$ A horizontal line labeled M C starts from point d on the vertical axis. M C equals A C$.$ A point on line D corresponds to point b on the vertical axis as denoted by a dashed line. A dotted line from this point on line D passes through the intersection point of M R and M C and meets the horizontal axis. The line D intersects M C at a point after the intersection point of M R and M C$.$ Suppose the figure represents a firm that operates in a monopolistically competitive market. In the long run, you would expect:Group of answer choicesdemand to become more inelastic.more firms to enter the market.prices to increase.less quality and innovation.