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Price elasticity of residual demand

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Reference no: EM132526614

Which of the following statements are TRUE regarding the price elasticity of residual demand?

Select all correct answers.

Group of answer choices

a) it is equal to negative infinity in the perfect competition model.

b) It is less elastic for homogeneous goods than for heterogeneous goods.

c) It is equal to the price elasticity of market demand times the number of firms.

d) The monopoly markup increases as the price elasticity of residual demand becomes more negative.

Reference no: EM132526614

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