The monopolistically competitive seller's demand curve will become more elastic the:
A. more significant the barriers to entry.
B. larger the number of competitors.
C. greater the degree of product differentiation.
D. smaller the number of competitors.
Answer: B
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When a bank takes money that you put in your checking account and gives it to someone else, at a cost, for a period of time, it is said to be
A) making a loan. B) making a deposit. C) internalizing an externality. D) creating commodity money.
In the above figure, if the price is $12 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 0 B) 20 C) 30 D) 35
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
The international trade effect states that a(n) ________ in the price level will ________ net exports
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; not affect