Homework: ASSESS Cnapter &$4$

Question

My score: $9\mathrm{.}5/20$ pts $(47\mathrm{.}5\%)$

tomework

A new competitor enters the industry and competes with a second firm, which had been a monopolist. The second firm finds that although demand is not perfectly elastic, it is now relatively more elastic. The second firm's marginal revenue will be $$ and its profit$-$maximizing price will be $$

A$.$ perfectly inelastic; higher.

B$.$ more elastic; lower.

C$.$ perfectly elastic; the same.

D$.$ less elastic; higher.