Firms in monopolistic competition make products that are
A) perfect complements.
B) close but not perfect complements.
C) perfect substitutes.
D) close but not perfect substitutes.
D
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The entrepreneur
A. runs his or her own business and risks his or her own money. B. does not necessarily run her or his own business nor risks her or his own money. C. runs his or her own business, but does not necessarily risk his or her own money. D. does not necessarily run her or his own business, but does risk her or his own money
Identify the largest and smallest components of GDP
When discussing the price elasticity of demand we generally refer to the absolute price elasticity of demand by consumers. This means that we will
A) disregard the law of demand. B) ignore its relationship to demand. C) disregard the minus sign. D) consider absolute rather than relative changes.
Each of the following is a provision of the 1996 welfare reform law except that
A. the federal guarantee of cash assistance for poor children is ended. B. the head of every welfare family would have to work within 2 years or the family would lose benefits. C. after receiving welfare for two months adults must find jobs or perform community service. D. women who have more children while on welfare will have their benefits reduced.