A monopolistically competitive market
a. is imperfectly competitive, and all imperfectly competitive markets are monopolistically competitive.
b. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.
c. is imperfectly competitive, whereas an oligopolistic market is not imperfectly competitive.
d. is not imperfectly competitive.
b
You might also like to view...
Recall the Application. If the decrease in price of illegal drugs is due to equal changes in demand and supply, the equilibrium quantity of drugs
A) will increase. B) will decrease. C) will not change. D) may or may not change.
In determining whether a further investment in education for an individual is worth the costs, an economist would look at whether the sum of the
A. annual education costs is exceeded by the sum of the increases in income that are attributable to the increased education. B. present value of the annual education costs is exceeded by the sum of the present value of the annual income to the person. C. annual education costs is exceeded by the sum of annual income to the person. D. present value of the annual education costs is exceeded by the sum of the present value of the increases in income that are attributable to the increased education.
Consumption expenditure, investment, and net exports __________.
Fill in the blank(s) with the appropriate word(s).
Suppose that in a series of paired-choice votes a new park is preferred to a new recreation center and a new recreation center is preferred to street widening. Also suppose that street widening is preferred to a new park. This set of votes is an example
of the: A. principal-agent problem. B. benefits-received principle. C. median-voter model. D. paradox of voting.