The demand curve facing the monopolistically competitive firm is:
A. flat.
B. U-shaped.
C. vertical.
D. None of these statements is true.
Answer: D
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If the MPC = 0.80, the tax multiplier is
A) -2. B) -4. C) -5. D) -8.
The Shackled Foot Corporation is a conglomerate with four major divisions. Each division has performed poorly over the years and none has a return greater than 2 percent. Karen, who could have invested her money at 5 percent, buys the company. What does her action imply?
Immigration is an important
a. explanation for the failure of firms to operate on their labor-demand curves. b. explanation for the failure of firms to operate on their output-supply curves. c. source of shifts in labor demand. d. source of shifts in labor supply.
When a firm sells products at lower prices to foreign purchasers, it is known as:
a. international dumping. b. restraint of trade. c. price gouging. d. reciprocal dumping.