In which market structure model(s) is product differentiation a significant feature?
a. Perfect competition
b. Monopolistic competition
c. Monopoly
d. Oligopoly
e. Both perfect competition and monopolistic competition
b
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If you are using a 95% confidence interval and the absolute value of the t-statistic is larger than the critical value, then
A) we accept the null hypothesis at a 95% confidence level. B) we reject the null hypothesis at a 95% confidence level. C) we will be wrong less than 5% of the time if we accept the null hypothesis. D) we will be wrong 95% of the time if we reject the null hypothesis.
The production function for a good is a downward-sloping linear curve
a. True b. False Indicate whether the statement is true or false
For a monopolist, when the price effect is greater than the output effect, marginal revenue is
a. positive. b. negative. c. zero. d. maximized.
Which of the following would be an asset to a bank?
A. Cash in the vault B. A loan to a university student C. A government security D. All of these responses are correct.