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

question 27

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 profit.
• D) lower its average total cost at its profit-maximizing level of output.

---

Definitions:

Chemically Equivalent

Atoms or groups in a molecule that are indistinguishable in a chemical reaction, often having the same connective pattern and environment.

Enantiotopic

Describes atoms or groups of atoms in a molecule that are mirror images of each other but are not superimposable, similar to one's left and right hands.

Quintet

A group of five lines or peaks observed close together in a spectroscopic measurement, often indicative of a specific atomic or molecular structure.

Triplet

In spectroscopy, a pattern of three closely spaced spectral lines or signals, often due to splitting in NMR or EPR spectroscopy caused by spin-spin coupling.