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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Q7: Under monopolistic competition, the long run equilibrium
Q8: In short run a firms in monopolistic
Q9: In long run all the firms in
Q10: The short run equilibrium level of output
Q11: When a group of monopolistic competition attains
Q13: When demand curve is elastic, MR is
A)1
B)0
C)Positive
D)Negative
Q14: The best or optimum level of output
Q15: Which type of competition leads to maximum
Q16: In the short run, the monopolist
A)Breaks even
B)Incurs
Q17: The demand for the product of a
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