In the short run, product differentiation enables firms in monopolistically competitive markets to:
A. produce a good which is standardized.
B. produce a good for which there are exact substitutes.
C. price the good at marginal cost.
D. earn a positive economic profit.
Answer: D
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What will be an ideal response?
Which of the following is the main goal of a continuing company?
A. To improve product quality B. To enhance service to its customers C. To maximize the value of the firm D. To minimize costs
Environmental harm declines with rising income per person when
A. with rise in income the increase in demand for better environment quality is larger than any adverse effects from rising production scale. B. the adverse effect of any increase in nominal Gross Domestic Product (GDP) dominates any modest improvements from better production techniques. C. the government imposes restrictions on the import of environment-friendly technologies from abroad. D. the consumption of environment-friendly goods decline with an increase in income.
In the U.S., which of the following government programs assist workers find jobs when they lose their jobs due to trade?
A. Trade Adjustment Assistance program B. Social Security C. workers' compensation D. Obamacare