Which of the following most characterizes monopolistic competition?
A. Price leadership.
B. Price discrimination.
C. Economies of scale.
D. Product differentiation.
Answer: D
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Which phrase(s) is (are) associated with normative statements?
a. c and e. b. Has been shown. c. Should be. d. Can be. e. More than.
A public good is
A. any good provided by government. B. a good that can be most cheaply provided by government, though it may in fact be provided by private enterprise. C. a good whose benefits cannot readily be restricted to a small group of people. D. a good whose benefits cannot be enjoyed by an individual alone.
The amount of U.S. exports to the rest of the world is primarily determined by
What will be an ideal response?
The firm's supply curve in the short run is given by
A) The segment of the marginal cost curve above average variable cost. B) The segment of the marginal cost curve above the break-even price. C) The segment of the marginal cost curve above average total cost. D) None of the above.