In monopolistic competition, there are ________

A) many firms selling products for which no good substitutes exist
B) many firms selling similar but slightly different products
C) many firms, each selling an identical product
D) a small number of firms, each selling an identical product


B

Economics

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The benefits a retired worker receives from Social Security are a fixed percentage of the wages he or she earned

Indicate whether the statement is true or false

Economics

A demand curve that is parallel to the horizontal axis is:

A. perfectly inelastic. B. perfectly elastic. C. relatively inelastic. D. relatively elastic.

Economics

An improvement in one of the four supply factors is a sufficient condition for economic growth. Evaluate.

What will be an ideal response?

Economics

Refer to the given data. If the prices of labor and capital are $9 and $15 respectively, at the profit-maximizing level, the firm's total output will be:



A.  38 units.
B.  60 units.
C.  64 units.
D.  27 units.

Economics