The Price Elasticity of a Monopolistically Competitive Firm's Demand Curve

question 142

Multiple Choice

The price elasticity of a monopolistically competitive firm's demand curve varies

• A) inversely with the number of competitors and the degree of product differentiation.
• B) directly with the number of competitors and the degree of product differentiation.
• C) directly with the number of competitors but inversely with the degree of product differentiation.
• D) inversely with the number of competitors but directly with the degree of product differentiation.

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