In a monopolistically competitive market, how do we model the firm's slight control over the price that they charge?
A. The demand curve is downward sloping and very elastic.
B. The demand curve is downward sloping and very inelastic.
C. The ATC is relatively flat.
D. The AVC is horizontal.
Answer: A
Economics
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If a firm takes the wage as given, then the firm's marginal expenditure on labor curve is
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