A major difference between monopolistic competition and perfect competition is
A) that products are not standardized in monopolistic competition unlike in perfect competition.
B) the barriers to entry in the two markets.
C) the degree by which the market demand curves slope downwards.
D) the number of sellers in the markets.
A
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In a fractional reserve banking system with no currency where res is the ratio of reserves to deposits, the money multiplier is
A) 1 - res. B) 1 + res. C) 1/res. D) res2
On the graph above, suppose the economy has moved from point H to point G. If the shock was temporary and inflation expectations are adaptive, the economy will next ________
A) return to point H B) move to point F C) move to a point between points G and H D) remain at point G E) none of the above
De Soto's The Other Path encourages poor countries to use their development policies to do all of the following except
A. Enforce laws to safeguard property. B. Encourage population growth. C. Reduce regulations. D. Encourage entrepreneurship.
A firm is experiencing ________ on the downward-sloping portion of a firm's long run average cost curve.
A. constant returns to scale B. diminishing marginal returns C. increasing returns to scale D. decreasing returns to scale