A market situation in which a large number of firms produce similar but not identical products is
A. monopolistic competition.
B. a homogeneous market.
C. competitive monopoly.
D. a collusive market structure.
Answer: A
You might also like to view...
If the marginal external cost of building a children's playground equals zero, then the
A) marginal private cost equals the marginal social cost. B) marginal social cost equals zero. C) marginal private cost equals zero. D) None of the above answers is correct.
One big difference between tariffs and quotas is that tariffs
a. raise the price of a good while quotas lower it b. generate tax revenues while quotas do not c. stimulate international trade while quotas inhibit it d. hurt domestic producers while quotas help them e. generate the same outcome as free trade while quotas do not
Each seller of a product is willing to sell as long as the price he or she can receive is greater than the opportunity cost of producing the product
a. True b. False Indicate whether the statement is true or false
In general, the IMF provides developing countries with:
A. loans and lets these countries decide how the loans will be used. B. technical advice but does not provide them with loans. C. loans, but only if the government adopts certain policies specified by the IMF in return. D. neither loans nor technical advice.