Which of the following is true about the demand curve for a monopolistically competitive firm??
A. ?It is less elastic (steeper) than for monopoly, but more elastic (flatter) than for a perfectly competitive firm.
B. ?It is less elastic (steeper) than the demand curve for either a monopoly firm or a perfectly competitive firm.
C. ?It is more elastic (flatter) than the demand curves for either a monopoly firm or a perfectly competitive firm.
D. ?It is less elastic (steeper) than for a perfectly competitive firm, but more elastic (flatter) than for a monopoly firm.
Answer: D
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a. True b. False
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a. True b. False Indicate whether the statement is true or false