Question

8. The demand curve of a monopolistically competitive firm is _______ elastic than the demand curve...

8. The demand curve of a monopolistically competitive firm is _______ elastic than the demand curve of a monopoly because the monopolistically competitive firm _______.

Group of answer choices

more, has competitors

more, is a price maker

more, is monitored more closely by the government

less, only a few competitors

less, exists in an environment without good information

10. Which of the following is not correct for a perfectly competitive firm?

Group of answer choices

price equals marginal revenue

average revenue equals price

price equals average revenue

the demand curve is downward sloping

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