A monopolistically competitive firm can raise price somewhat due to
a. product differentiation
b. barriers to entry
c. product similarity
d. its homogeneous product
e. high tariffs
A
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Explain why total utility is maximized when the marginal utility per dollar on all goods is equal
What will be an ideal response?
The exchange rate of a currency will increase if the quantity demanded exceeds quantity supplied at the current exchange rate
a. True b. False Indicate whether the statement is true or false
Expansionary fiscal policy is likely to lead a nation's currency to depreciate
Indicate whether the statement is true or false
The United States has developed a comparative advantage in film production due to the film industry being long-established in southern California, and lower costs result from the size of the industry in the area. This source of comparative advantage is
referred to as A) the abundance of natural resources. B) superior process technology. C) external economies. D) best practices of unskilled labor.