Some Economic questions.The more elastic the monopolistic competitor's demand curve is, the a. fewer the number of competitors b.

Some Economic questions. Thanks in advance  for the help

1.The more elastic the monopolistic competitor's demand curve

is, the

a. fewer the number of competitors

b. easier it is for firms to enter the market and duplicate the product

c. greater the difficulty in duplicating the product

d. lower the public's awareness

e. none of the above

2.The monopolistic competitor will charge a price

a. above that of a purely competitive firm but will produce more

b. below that of a monopolist firm will produce more

c. equal that of a monopolist but will produce at the output level of a purely competitive firm

d. to maximize sales

e. where economic profits are zero in the short run

3.Which of the following statements about the monopolistically

competitive industry in the long run is true?

a. Its output level is less than capacity

b. Its price is above that for a perfectly competitive firm

c. Consumers have a greater variety of products to choose from

d. All of the above statements are true

e. None of the above statements are true

4.In the long run, the output level of a monopolistic competitor

a. occurs at the minimum of average total cost

b. is greater than that of the purely competitive firm

c. is less than that of monopolies or oligopolies

d. is the same as that of the perfectly competitive firm

e. is none of the above