Product differentiation makes the demand for a monopolistically ...

[altibaby]

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]

Answer to Question 1

b

Answer to Question 2

b