Question

In: Economics

1) By providing better service, a firm is trying to… A. Make demand less elastic B....

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

Solutions

Expert Solution

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.

Rahul Sunny answered 2 years ago
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