Which of the following conditions distinguishes monopolistic competition from perfect competition?
a. the number of sellers in the market
b. the freedom of entry and exit by firms in the market
c. the size of firms in the market
d. product differentiation
d
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In the multiple-polluter case, each firm faced with an emission charge imposed as a marginal tax (MT) abates as long as
a. its MAC
Studies have shown that tipping is much less common in countries where caring and personal relationships are highly valued, as opposed to the values of success and materialism
Indicate whether the statement is true or false
Which of the following are explanations for sticky prices?
a. long-term labor contracts b. fixed exchange rates c. flexible exchange rates d. fixed money supply
Opening this economy to trade would benefit ________ and harm ________.
A. domestic car consumers; domestic car producers B. domestic car producers; domestic car consumers C. everyone; no one D. no one; everyone