A monopolistically competitive industry has
A) significant barriers to entry.
B) differentiated products.
C) mutually dependent firms.
D) a small number of large firms.
B
You might also like to view...
Corporate managers and shareholders do not always have the same goals
Indicate whether the statement is true or false
The change in the price of one good has no effect on the quantity demanded of another good. These goods are:
A) complements. B) substitutes. C) both inferior. D) both Giffen goods. E) none of the above
All of the following would cause exports to decline, except:
a. a depreciation of the domestic currency. b. a decline in foreign income. c. stricter government regulations on international trade. d. a decline in foreign preferences for domestic goods. e. foreign import quotas on domestic products.
Import quotas contribute to higher prices of products imported into the U.S., but tariffs do not
a. True b. False Indicate whether the statement is true or false