In what ways can a monopolistically competitive firm differentiate their product?
a. Physical Differences
b. Spatial Differentiation
c. Services Provided
d. All of the above are ways to differentiate a product
d
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Which of the following statements is true of data?
A) Anecdotes work as good substitutes for data. B) Data help in verifying causal relationships. C) Data are not important to evaluate theories. D) The less the available data, the better the analysis.
Which of the following policy tools is directly controlled by the Trading Desk at the Federal Reserve Bank of New York?
A) the spread between the discount rate and the federal funds rate B) the spread between the federal funds rate and the interest rate on banks' required reserves C) open market sales and purchases D) the required reserve ratio
A recession conventionally is defined as a decrease in
A) real GDP that lasts for at least six months. B) the growth rate of real GDP that lasts for at least six months. C) potential GDP that lasts for at least six months. D) real GDP that lasts for at least three months. E) the inflation rate that lasts for at least six months.
Equilibrium in the market for special interest benefits is determined where _____
a. the marginal cost of lobbying politicians is equal to the marginal benefits received from government b. the marginal political opposition is equal to the marginal political support c. the marginal price of a vote for a program is equal to the marginal benefit of that additional vote d. the marginal price of regulation is equal to the marginal benefit from that regulation