The less elastic a monopolistic competitor's long-run demand curve, the:


higher its price relative to that of a pure competitor having the same cost curves.

less its excess capacity.

lower its average total cost at its equilibrium level of output.


higher its long-run profits.
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Question 143.125 pts


Refer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm's profit-maximizing price will be:

13

16

19

10
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Question 153.125 pts
If we initially have a Gini coefficient of 0.6 in the United States, and then we engage in a "moderate" system of taxing (the wealthier) and redistribution (to the less wealthy), what is the new Gini coefficient likeliest to be?


0.9

0

1.2

0.3
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Question 163.125 pts
The prisoner's dilemna gets it name from:

Prisoners of war who came back with various psychological issues and needed mental health benefits.

Auction theory and how it applies to private companies vying for a private prison contract with the government

Two prisoner's being questioned separately by police and asked to testify against one another.

The need parents feel to be altruistic to their child when he or she is the result of an unplanned pregnancy