Monopolistic competition may result in high costs, and therefore it does not do a good job of serving consumers the way they want to be served.
Answer the following statement true (T) or false (F)
False
Monopolistic competition is sometimes accompanied by high prices for new products. But consumers have choices. They don't have to buy the new product unless they think it is a better value. The old products are still available, and their prices usually drop to meet the new competition.
You might also like to view...
The payroll supervisor usually reports directly to:
a. the treasurer b. the cashier c. the controller d. the VP Finance
High Peaks Skate and Snowboard is a small shop that provides equipment for Utah snowboarders in winter months. It has decided to increase advertising during this period in the Salt Lake Tribune and the Park Record in Park City, as well as to sponsor a new on-mountain competition. It is following which strategy?
A. Inducement B. Defensive C. Growth D. Stability E. Enhancement
Which of the following is a disadvantage of a level capacity plan?
A. stable employment B. low per-unit costs C. high rate of capacity utilization D. high levels of inventory during slack demand
List the ways in which a sender can cultivate a "you attitude" in his or her message.
What will be an ideal response?