As other firms enter a monopoly's market, the demand curve a ...

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As other firms enter a monopoly's market, the demand curve a monopoly faces
 
  A) is unaffected.
  B) becomes more inelastic.
  C) becomes more elastic.
  D) may become more or less elastic, depending on its Lerner Index.

Question 2

In the Cournot model, if the products are differentiated
 
  A) this reduces the pressure of one firm's decisions on the other.
  B) this increases the pressure of one firm's decisions on the other.
  C) there is no difference between this model and one with homogeneous goods.
  D) marginal costs are necessarily different.

[nanny]

Answer to Question 1

C

Answer to Question 2

A

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Excellent

[lcapri7]

TYSM