The elasticity of average revenue curve of the monopolistic competitor, depends on
A) the extent of product differentiation
B) the number of firms
C) number of buyers
D) both a & b
Correct Answer:
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Q8: Under monopolistic competition, the long run equilibrium
Q9: In short run a firms in monopolistic
Q10: In long run all the firms in
Q11: The short run equilibrium level of output
Q12: When a group of monopolistic competition attains
Q14: Under monopolistic competition, the demand curve of
Q15: When demand curve is elastic, MR is
A)1
B)0
C)positive
D)negative
Q16: The best or optimum level of output
Q17: Which type of competition leads to maximum
Q18: In the short run, the monopolist
A)breaks even
B)incurs
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