In a monopolistically competitive market, there:
A. are many firms selling an identical product.
B. is only one firm that sells many similar yet slightly different products.
C. are many firms that have slight control over the price they charge for their product.
D. are substantial barriers to entry.
Answer: C
You might also like to view...
Which of the following is a potential monetary policy instrument for the Fed?
A) federal funds rate B) loanable funds C) inflation rate D) profit rates E) real interest rate
Which of the following statements is FALSE?
A. The United States' international competitive position has been helped by its long history of widespread entrepreneurship. B. When it comes to overall productive efficiency, compared to Japan, Germany and the rest of the European Union, the United States lags far behind. C. Economic restructuring and investments in information technology have added to productive efficiency in the United States. D. Sophisticated financial systems have given U.S. productive efficiency a boost.
What contributed to stagflation’s demise between 1982 and 1989? How did these events affect aggregate supply and the Phillips Curve?
What will be an ideal response?
Property income generally takes the form of all of the following except
A. dividends. B. transfer payments. C. interest. D. profits.