Firms in monopolistically competitive markets can differentiate their products on the basis of:
a. brand identity
b. quality.
c. convenience.
d. all of the above.
d
You might also like to view...
__________ trading volume promotes __________ bid-asked spreads
A) Large; wide B) Large; narrow C) Small; narrow D) None of the above.
What is a good argument for using the model of the consumer despite the fact that it requires making many simplifying assumptions?
A) It is complex to solve. B) The assumptions are sometimes realistic. C) It explains observed patterns of behavior. D) It is used in many scholarly fields.
Fractional reserve banking refers to a system where banks
A. deposit a fraction of their reserves at the central bank. B. accept a portion of their deposits in checkable accounts. C. grant loans to their borrowing customers. D. hold only a fraction of their deposits in their reserves.
Two goods are substitutes if an increase in the price of one good leads to a decrease in demand for the other.
Answer the following statement true (T) or false (F)