Which of the following is NOT a characteristic of the demand curve faced by a firm in a monopolistically competitive market?
A. The firm will produce where the demand curve is inelastic.
B. The slope of the demand curve is negative.
C. The firm will produce where the demand curve is elastic.
D. The demand curve is downward sloping.
Answer: A
You might also like to view...
In the circular flow model, the source of the factors of production used to create goods and services is the
a. product market b. resource market c. firms d. households e. exchange market
The steam engine was one of the basic innovations of the ____, which began in England around the year ____.
Fill in the blank(s) with the appropriate word(s).
Refer to Table 3-20. What is Theresa’s opportunity cost of producing one pound of beef?
a. 5/6 bushel of wheat b. 6/5 bushel of wheat c. 3/5 bushel of wheat d. 5/3 bushels of wheat
Which of the following is true of foreign direct investment (FDI) in China?
A. FDI inflows in China declined substantially during 2005-2007. B. Much of China's FDI has come from the developing countries located close to it. C. Three-fifths of the FDI into China is in the service sector. D. Foreign-affiliated firms account for more than 50 percent of production value added in China.