Figure 10.18 -Refer to Figure 10.18.Which of the Following Statements Is True

question 224

Multiple Choice

Figure 10.18
-Refer to Figure 10.18.Which of the following statements is true?

• A)D_a represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while D_b depicts the demand curve in the short run.
• B)D_a represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while D_b depicts the long-run demand curve in an increasing-cost industry.
• C)D_a represents the long-run demand curve facing a perfect competitor while D_b depicts the long-run demand curve facing a monopolistic competitor.
• D)D_a represents the long-run supply curve in a perfectly competitive, constant-cost industry while D_b depicts the long-run demand curve facing a monopolistic competitor in a decreasing-cost industry.

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