Which region's agricultural system developed very differently from that of the rest of the nation?
A. the West
B. the Midwest
C. New England
D. the South
D. the South
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Which of the following statements is true about advertising by a monopolistically competitive firm?
A) Since the monopolistic competitor, like the perfect competitor, makes zero profit in the long run, it is a waste of resources to advertise its products. B) Advertising could make the monopolistic competitor's demand more inelastic, but advertising has no effect on a perfect competitor's demand. C) Monopolistically competitive firms tend to shun advertising because advertising draws attention to the variety of differentiated products available in the industry. D) Advertising will be more beneficial if a monopolistic competitor colludes with other firms to advertise the products of the industry as a whole rather than an individual firm's product.
In arriving at the quantity of output and price of its product, a company
A. chooses both price and quantity, since it understands its demand relationship. B. cannot set price or quantity; this is done by the market. C. makes two separate decisions about quantity and product price. D. can set price but quantity is determined by market demand.
Another name for the contractionary phase of a business cycle is recession
a. True b. False Indicate whether the statement is true or false
Explain the relationship between the minimum wage and the unemployment rate for teenagers.
What will be an ideal response?