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The demand curve of a firm in monopolistic competition is:

A. Negatively sloped

B. Vertical

C. Horizontal

D. Positively sloped

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  1. At low prices, demand is likely to be:
  2. Which of the following is called Gossens first law?
  3. Necessary condition for consumer equilibrium is:
  4. In substitution effect, we:
  5. MC is given by:
  6. Extension (expansion) of demand means:
  7. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity…
  8. The supply curve for the short-run competitive firm is the same as:
  9. If X and Y are close substitutes, a fall in price of X will lead to:
  10. The main contribution of Alfred Marshal is in the field of:
  11. The demand for cigarettes is price inelastic implying a unit tax on this commodity will
  12. The advantage of using indifference curves rather than marginal utilities is:
  13. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  14. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  15. The market demand shedule is determined by:
  16. Identify the author of The Principles of political Economy and Taxation:
  17. If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the…
  18. An effective price ceiling usually results in:
  19. The horizontal demand curve for a commodity shows that its demand is:
  20. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  21. An increase in the price of the good measured on the horizontal axis causes:
  22. The concept of industry in monopolistic competition has been replaced by:
  23. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  24. If demand is elastic and supply is inelastic then the burden of a tax on the good will be:
  25. The Law of Diminishing Marginal Returns can be explained in terms of:
  26. Efficient allocation of resources is achieved to a greater extent under:
  27. In Bertrand model, the entry of new firms is:
  28. A mixed economy is characterized by the coexistence of:
  29. Variable costs refer to:
  30. A firm considering what type of new plant to build is involved in a: