The closer monopolistic competition gets to perfect competition
a. the more vertical the AR curve.
b. the more horizontal the AR curve.
c. the greater the difference between AR and MR.
d. the greater the profit.
b. the more horizontal the AR curve.
You might also like to view...
In 2014, global revenue for IBM was ________ when measured in local currencies than it was when measured in dollars. This occurred because the value of the U.S. dollar ________ relative to most other currencies
A) lower; increased B) higher; increased C) higher; decreased D) lower; decreased
An inflationary output gap is defined to be when the current level of output is:
A. below full employment GDP. B. above full employment GDP. C. equivalent to full employment GDP. D. high enough to cause an unexpected amount of inflation.
A risky borrower can pay a lower interest rate if:
a. she invests the amount in a profitable business. b. she can assure the lender of a low inflation rate. c. she makes a promise to repay within a short interval. d. she can arrange for a collateral.
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the labor force is
a. 30 b. 60 c. 85 d. 90 e. 70