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Author Question: Product differentiation makes the demand for a monopolistically competitive firm's product: a. ... (Read 167 times)

altibaby

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  • Posts: 562
on: Jun 30, 2018
Product differentiation makes the demand for a monopolistically competitive firm's product:
 a. perfectly elastic.
  b. more elastic than for a monopoly.
  c. more inelastic than for a monopoly.
  d. perfectly inelastic.

Question 2

Assume the price of good Y with its quantity measured on the vertical axis is 100 and the price of good X with its quantity measured on the horizontal axis is 10 . If the consumer's budget is 500, then the absolute value of the slope of the budget line is:
 a. 500.
  b. 1/10.
  c. 10.
  d. 100.


aruss1303

  • Sr. Member
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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


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