In a monopolistically competitive industry, good product substitutes are available whereas in a monopoly they are not available.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Eco Energy is a monopolistically competitive producer of a sports beverage called Power On. Table 13-2 shows the firm's demand and cost schedules. Refer to Table 13-2. What is the marginal profit from producing and selling the 5th case?
A. $10 B. $20 C. $30 D. $40
Which of the following statements is true of a perfectly competitive market?
A) Innovation is less likely in a competitive market because of free entry and exit of firms. B) Innovation is likely in a competitive market because of free entry and exit of firms. C) The firms in a competitive market invest more in R&D because they face an inelastic demand curve. D) The firms in a competitive market invest more in R&D because their demand for resources is perfectly elastic.
Assume that the required reserve ratio is 10 percent. A bank has deposits of $1,000,000 and cash of $500,000 in the Fed. The bank has demand deposits equal to $1,500,000. Given this information, the bank has excess reserves of
A) $850,000. B) $350,000. C) $1,350,000. D) None of the above.
The Standard and Poor's 500 Index measures prices of the 500:
A. most purchased consumer goods in the United States. B. stocks of the largest companies in the United States. C. largest bonds trading in the United States. D. largest index funds trading in the United States.