A firm in a monopolistically competitive market is similar to a monopolist in the sense that it
a. must overcome significant barriers to entry
b. faces a downward-sloping demand curve
c. produces a large share of the market output
d. is dependent on the actions of other firms
e. produces the same product as its competitors do
B
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Explain why it may make sense for the United States, Japan, and Europe to allow their mutual exchange rate to float?
What will be an ideal response?
Opening trade between nations enables each nation's consumption possibilities to go beyond the confines of its own production possibilities curve
a. True b. False Indicate whether the statement is true or false
According to the rule of 70, a country will double its real GDP per capita in 10 years if it:
A. experiences a 7 percent growth rate in per-capita GDP. B. has inflation of 7 percent. C. has a population growth rate of 7 percent. D. None of these is true.
A vertical line always has a slope of one.
Answer the following statement true (T) or false (F)