Product differentiation always exists in
A. oligopoly.
B. monopolistic competition.
C. perfect competition.
D. monopoly.
Answer: B
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Milton Friedman would eliminate the destabilizing effect of the Federal Reserve's monetary policy by
A) eliminating the Federal Reserve. B) removing the Federal Reserve's political independence. C) requiring that the Federal Reserve choose a monetary aggregate and increase it at a fixed percentage rate each year. D) eliminating the Federal Reserve's right to carry out open-market operations.
If there are negative externalities that spill across governmental borders, this provides a justification for _____
a. private action b. larger governments c. smaller governments d. intergovernmental competition
Economic analysis assumes that
What will be an ideal response?
Forestry companies typically harvest and replant an area when trees are:
A. very young and growing slowly. B. middle aged and growing rapidly. C. near the end of their rapid growth period. D. extremely old and about to die anyway.