Q In the Monopolistic market of athletic shoes currently has six firms shown below. Nike Skechers Starbird Reebok Adidas Under Armour D.1.2.3 Advanced Explanation- Monopolistic Competition QuickWrite Instructions: Students should review the graphs, the Advanced Explanation link, and review the two videos on monopolistic competition. QuickWrite Question: 1. Given the analysis of the graphs, what will happen to the number of firms in the market? 2. Discuss the firm's ability to control its individual market vs. the athletic shoe market. 3. Should any/a firm advertise? Why? 4. In theory, in the Long Run what will happen in this market? 5. In practice, Nike is THE dominant brand. Are consumers going to leave Nike? Need Help? D.1.2.3 Advanced Explanation- Monopolistic Competition Assignment Requirements: This is not an analytical paper, but a summary analysis of your knowledge of the concepts in this chapter. Students ARE NOT to cut and paste from the internet. You are welcome to add cited sources to your response. The response should be about 300 words (one page). Students posting less than a 300 word response will get reduced or no credit. Students may want to construct this response on a Google Doc and then post or submit the item to this portal. These responses are run against public sources via Turnitin.com (running inside Canvas) Submitting an Assignment via Google.Doc. - You can also just paste the text into the box (Links to an external site.)