Firms in monopolistic competition can achieve product differentiation by
A) expanding plant size.
B) exploiting economies of scale in production.
C) advertising special characteristics.
D) setting the price equal to average revenue.
C
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If you believe that velocity is constant and that the aggregate supply curve is horizontal, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of the
a. price level and real output. b. price level. c. price level and no change in real output. d. real output.
A market:
A. reflects upsloping demand and downsloping supply curves. B. entails the exchange of goods, but not services. C. is an institution that brings together buyers and sellers. D. always requires face-to-face contact between buyer and seller.
Describe the changes in the variables that will cause the demand for a product to decrease, shifting the demand curve to the left
What will be an ideal response?
Legitimate power is the same as
a. laissez faire leadership b. traditional leadership c. peer pressure d. expert leadership