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Please help economic theories and terminologies learned to analyze and explain the questions. 3. Why is the monopolistic competitor's demand curve more elastic than a

Please help economic theories and terminologies learned to analyze and explain the questions.

3. Why is the monopolistic competitor's demand curve more elastic than a pure monopolist, but less elastic than a pure competitor? What factors determine the price elasticity of demand for a monopolistic competitor?

4. What are negative externalities and positive externalities? How do they affect supplyand demand curves?

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