on 57 A monopolistically competitive firm operates red Owith diseconomies of scale. out of Owhere average total cost is decreasing in the long run. g question Owhere average total cost is increasing in the long run. Oat the minimum of average total cost in the long run. on 58 If a firm in a monopolistically competitive market lowers price, then red Oquantity demanded for the good will not change. out of Oquantity demanded for the good will increase. g question Oquantity demanded for the good decrease slightly. Oquantity demanded for the good will decrease to zero. on 59 Which of the following is not an example of an oligopoly? et red Oprice setting power out of Ofew firms Oprice taker g question Osimilar or nearly identical product on 60 A family's ability to buy goods and services depends more on its transitory income than its permanent income. et OTrue out of OFalse g