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

question 34

Multiple Choice

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

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

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