In the above figure, if the firm is in monopolistic competition, it will produce
A) 40 units.
B) 60 units.
C) between 61 and 99 units.
D) 100 units.
A
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The substantial increase in clear property rights has severely impeded growth in many developing countries
Indicate whether the statement is true or false
Your friend Tony opened a pizzeria. You helped him to advertise his pizza, which is in fact the best pizza in town. As a result, the demand for Tony's pizza increases and your friend, noticing lines of customers, raises the price of his pizza
But then he fears that the higher price will cause demand to decline, which will cause the price to drop. Is Tony right in his analysis of the situation? Explain.
Which of the following is NOT a way to signal high quality
a. wearing everyday clothes to a job interview b. leaving a big tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
The basic reason that supply curves slope upward is that
a. demand curves slope downward b. production is characterized by increasing costs c. profits decline as product prices rise d. greater output can only result from improved technology e. price and quantity supplied are inversely related