The Difference Between Short-Run Demand and Long-Run Demand for a Monopolistic

Multiple Choice

The difference between short-run demand and long-run demand for a monopolistic competitor is

A) There is no difference between long-run and short-run demand for a monopolistic competitor.
B) long-run demand results in no economic profit, whereas short-run demand might result in profits or losses.
C) in the long run demand slopes downward, but in the short run it is horizontal.
D) the long-run demand is elastic, whereas the short-run demand is inelastic.
E) in the short run demand slopes downward, but in the long run it is horizontal.