The less elastic a monopolistic competitor's long-run demand curve, the:
A. less its excess capacity.
B. higher its price relative to that of a pure competitor having the same cost curves.
C. higher its long-run profits.
D. lower its average total cost at its equilibrium level of output.
Answer: B
Economics
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Other things equal, an increase in defense spending will increase the budget deficit
a. True b. False Indicate whether the statement is true or false
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