Monopolistic competition is a market structure characterized by many small firms selling a homogeneous product
a. True
b. False
Indicate whether the statement is true or false
False
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A firm's ______ are costs that increase as quantity produced increases. These costs often show ______ illustrated by the increasingly steeper slope of the total cost curve.
A. fixed costs; opportunity costs B. variable costs; diminishing marginal returns C. fixed costs; technological changes D. variable costs; constant returns to scale
Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called _____________ economicindicators.
A. leading. B. lagging. C. coincident. D. structural.
Explain how government intervention can improve economic efficiency in a market with a negatively externalize
Please provide the best answer for the statement.
Refer to the given data. Suppose that before specialization and trade Alpha chose production alternative C and Beta chose production alternative B. After specialization and trade, the gains will be:
A. 20 tons of fish.
B. 20 tons of chips.
C. 20 tons of fish and 20 tons of chips.
D. 240 tons of fish and 20 tons of chips.