Consumers benefit from monopolistic competition by
A) paying the same price as everyone else.
B) being able to purchase high-quality products at low prices.
C) paying the lowest possible price for the product.
D) being able to choose from products more closely suited to their tastes.
D
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An improvement in technology will cause the
A. economy to move down the production possibility frontier. B. production possibility frontier to shift inward. C. production possibility frontier to shift outward. D. economy to move closer to its production possibility frontier.
Direct controls may be a more expensive method in reducing pollution than emissions taxes.
Answer the following statement true (T) or false (F)
In the figure above, if the market is unregulated, at the equilibrium output the marginal external cost is
A) zero. B) $250 per unit. C) $150 per unit. D) $100 per unit.
In the eighteenth century, the rise of manufacturing in New England helped the region attract more settlers than the other regions of the English colonies
Indicate whether the statement is true or false