Give two examples of products sold in perfectly competitive markets and two examples of products sold in monopolistically competitive markets.
Answer: Apples and oranges are sold in perfectly competitive markets and Maybelline cosmetics and Ralph Lauren cologne are sold in monopolistically competitive markets.
You might also like to view...
Which of the following U.S. antitrust laws prohibits mergers through the acquisition of a firm's assets if the merger would lessen competition?
a. the Sherman Antitrust Act b. the Clayton Act c. the Robinson-Patman Act d. the Celler-Kefauver Anti-Merger Act e. the Federal Trade Commission Act
How do insurance companies try to reduce: 1) the moral hazard problem; 2) the adverse selection problem?
An indifference map shows
A. A set of budget constraints and one indifference curve. B. A set of indifference curves. C. One indifference curve. D. A set of indifference curves and a set of budget constraints.
A monetary policy reaction curve requires the central bank to have a(n):
A. economic growth target. B. money growth target. C. inflation target. D. unemployment target.