The Figure Given Below Shows the Revenue and Cost Curves

question 114

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-Compared with generic products, a brand name:

• A)reduces the price elasticity of demand and gives a firm more market power.
• B)increases the price elasticity of demand and gives a firm more market power.
• C)increases the price elasticity of demand and gives a firm less market power.
• D)reduces the price elasticity of demand and gives a firm less market power.
• E)has no effect on price elasticity of demand or market power.

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