Monopolistic competition is common in:
a. retail selling
b. farming.
c. basic manufacturing.
d. electric power generation.
a
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Profits resulting from luck can be distinguished from profits attributable to shrewd predictions by
A) calculating the opportunity cost of earning the profits. B) comparing the profits with interest rates. C) finding out whether they lead to reduced revenue or increased costs. D) no known empirical test. E) whether or not they were generally anticipated.
Which country is the United States' largest trading partner?
a. Canada b. Japan c. Great Britain d. Mexico e. South Korea
What are the characteristics of monopolistic competition?
What will be an ideal response?
The term utility refers to the:
A. pleasure or satisfaction a consumer receives upon consuming a good. B. necessity of a good. C. price of a good. D. number of goods a consumer has.