An example of monopolistic competition is the _____ market.
Fill in the blank(s) with the appropriate word(s).
restaurant
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Flat tax critics
A. Object to the elimination of tax deductions and credits. B. Believe it would reduce vertical inequities. C. Object to the government control over the mix of output that it would cause. D. Believe it would reduce horizontal inequities.
Critics of advertising argue that advertising
a. creates desires that otherwise might not exist. b. hinders competition. c. often fails to convey substantive information. d. All of the above are correct.
A rules-based monetary policy
A) is advocated by activists. B) is advocated by nonactivists. C) could involve a predetermined steady growth rate in the money supply. D) b and c E) all of the above
Using the data in the table above, at the price of $80 a phone,
A) a shortage of 25,000 cellular telephones occurs. B) a surplus of 80,000 cellular telephones occurs. C) a surplus of 25,000 cellular telephones occurs. D) a shortage of 55,000 cellular telephones occurs. E) the market is in equilibrium.