Which of the following examples shows monopolistic competition?
a. RKS Communications has no other competitors in the GPS market.
b. Johnson Acres produces corn that is identical to the corn produced by other farms.
c. Bubbly Soft Drinks emphasizes it has a lower price than other soft drink brands.
d. Pleasant Dreams is one of the few firms in the antique jewelry market.
c. Bubbly Soft Drinks emphasizes it has a lower price than other soft drink brands.
You might also like to view...
A financial services company offers to pay you $1,000 a year for life in exchange for $20,000 today. What factors affect your decision to take this offer?
What will be an ideal response?
Other things constant, which of the following would reduce unemployment and raise inflation?
a. businesses become more optimistic about the future of the economy b. because of high growth abroad, net exports rise c. the government cuts taxes d. All of the above are correct.
Wealth is defined as the:
A. value of monetary assets. B. value of assets that can be converted to cash on short notice. C. value of all assets minus the money that is owed. D. total amount of income earned in a one-year period.
A commercial bank can add to its actual reserves by:
A. lending money to bank customers. B. buying government securities from the public. C. buying government securities from a Federal Reserve Bank. D. borrowing from a Federal Reserve Bank.