Compared to monopoly, the market results with monopolistic competition are usually expected to be:
a. worse because consumers get fewer choices.
b. worse because consumers pay a higher price.
c. the same.
d. better because consumers get less output.
e. better because consumers pay a lower price.
e
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A demand curve is defined as the relationship between
A) the income of consumers and the quantity of a good that producers are willing to sell. B) the income of consumers and the quantity of a good that consumers are willing to buy. C) the price of a good and the quantity of that good that producers are willing to sell. D) the price of a good and the quantity of that good that consumers are willing to buy.
Comment on the following statement: "The market demand for public goods is derived in the same way that the market demand for private goods is derived."
What will be an ideal response?
The average difference over a long period of the interest rate on long-term bonds and the interest rate on the short-term federal funds rate is called
A) risk premium. B) term premium. C) FED's premium. D) monetary premium.
Use the above table. Based on the information in the table, artisan bread is a(n)
A. inferior good. B. negative good. C. necessary good. D. normal good.