Answer the following statement(s) true (T) or false (F)
1. Monopolistic competition is a market structure where many producers of identical products compete with one another
2. Monopolistic competition is closer to competition than to monopoly.
3. Product differentiation is the accentuation of unique product qualities, real or perceived, to develop a specific product identity.
4. Price is one of the four main types of product differentiation.
5. Physical differences are considered to be a primary source of product differentiation.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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When social and private costs differ, economists state that
A) there will be economic profit in the society. B) the society will produce inside the production possibilities frontier. C) there is an externality. D) there is not an efficiency problem but an equity problem.
If the interest is 5%, should the firm undertake the investment?
a. Yes, since NPV=0 b. Yes, since NPV<0 c. Yes, since NPV>0 d. No, since NPV=0
Taxes are injections into the circular flow of income and expenditure model
a. True b. False Indicate whether the statement is true or false
The market for corporate takeovers
A) helps disciplines the behavior of CEOs. B) forces CEOs to focus on market share. C) had nothing to do with the monitoring of CEO behavior. D) is not efficient.