Monopolistic competition is characterized by:
A. large markets.
B. heterogeneous products.
C. no free entry.
D. employing labor from a perfectly competitive labor market.
Answer: B
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If workers' money wage rates increase by 5 percent and the price level remains constant, workers'
A) quantity of labor supplied will decrease. B) quantity of labor supplied will increase. C) quantity of labor supplied will not change. D) demand for jobs will decrease.
If American demand for purchases of British goods has decreased, how would you expect the equilibrium exchange rate in the market for dollars to respond? Support your answer graphically
What will be an ideal response?
Which of the following will not cause a change in the demand for a product?
a. a change in consumer income b. a change in consumer preferences c. a change in the price of the product d. a change in the price of a substitute product
The MRT is
A. the marginal ring tone. B. the minimal rate of time. C. the maximum rate of transformation. D. none of these answer options are correct.