31) Suppose the Department of Health shut down other burger shops in town because of food hygiene violations, making Econonburgers a local monopoly. Its demand curve would then become more inelastic than the one shown in the above graph

a. True b. False

Use the following to answer the next 3 questions Econoburgers, a fast-food restaurant in a crowded local market, has reached a long-run equilibrium. IS MC 70 60 40 30 10 20 30 40 50 60 Q MR