The Less Elastic a Monopolistic Competitor's Long-Run Demand Curve, the

question 122

Multiple Choice

The less elastic a monopolistic competitor's long-run demand curve, the

• A)less its excess capacity.
• B)higher its price relative to that of a pure competitor having the same cost curves.
• C)higher its long-run profits.
• D)lower its average total cost at its equilibrium level of output.

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Definitions:

Vibrations

Oscillatory motions or energy waves moving through a medium or vacuum.

MOOCs

Massive Open Online Courses, which are free online courses available for anyone to enroll.

Physical Location

Refers to a specific place or position in the real world.

E-learning

Learning conducted via electronic media, typically over the Internet.