A monopolistically competitive market is characterized by
a. free entry, but not differentiated products.
b. differentiated products, but not long run profits.
c. long run profits, but not many firms.
d. many firms, but not free entry.
b
You might also like to view...
When the government contributes to a public good, private contributions will fall.
Answer the following statement true (T) or false (F)
An increase in a nation's population results in
A) an upward shift in the production function. B) a movement along the production function. C) a leftward shift in the labor supply curve. D) Both answers A and C are correct.
After browsing several pairs of shoes, Bob buys a pair of Nike running shoes. Economists would say that:
A. Bob is revealing his strong distaste for New Balance running shoes. B. Bob is revealing he will always choose Nike over any other shoe brand. C. Bob will get more utility per dollar from the Nike running shoes than any other in the store. D. Bob made a poor choice, if he really prefers Adidas.
Monetary policy will be ineffective if
A. Investors have favorable expectations for future sales. B. Interest rates are sensitive to the quantity of money supplied, and investment spending is sensitive to changes in the interest rate. C. The demand for money is very sensitive to changes in the interest rate, but the investment demand is not. D. The demand for money and investment demand are both very sensitive to changes in the interest rate.