Which of the following makes it difficult to regulate a monopolistically competitive market?
A. It is difficult to assess the costs.
B. It may stifle innovation if firms can’t make economic profit.
C. There are many firms with different costs of similar products.
D. All of the above are true.
D. All of the above are true.
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To maintain a balanced budget during the sag in personal spending in 2008 could cause a
a. further increase in aggregate demand and inflation. b. further increase in aggregate demand and unemployment. c. further decrease in aggregate demand and a recession. d. further decrease in aggregate demand and inflation.
Many disagreements with economists result because
A. economists deal with only positive economics. B. economists sometimes make normative judgments. C. economics is a social science. D. economics deals so much with theories and models.
If pizza used to be produced in a perfectly competitive market, and now the pizza market has become a monopoly, we can expect:
A. less pizza to be sold at a higher price. B. more pizza to be sold at a higher price. C. less pizza to be sold at a lower price. D. more pizza to be sold at a lower price.
The firm's break-even point occurs at an output of
A. 30.
B. 40.
C. 55.
D. 70.