In: Economics
1) By providing better service, a firm is trying to…
A. Make demand less elastic
B. Make demand more elastic
C. Make supply less elastic
D. Make supply more elastic
2) Firms in a monopolistically competitive market are most like students…
A. in a class graded on a curve
B. in a class with a straight grading scale (no curve)
C. in a school play
D. on a school basketball team
a) "A"
A better services in the market will make the demand less elastic.
b) "C"
It is like students in a school, as all are slightly different from each other.