A monopolistically competitive firm:
A. sells products that are close substitutes for its competitors' products, so will locate as far away from its competitors as possible.
B. will be more successful the more similar its output is to its competitors' output.
C. sells products that are perfect substitutes for its competitors' products, so must compete on the basis of location.
D. sometimes distinguishes its output from that of its competitors by locating in a more convenient place.
Answer: D
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What will be an ideal response?
Money is a ________ and a transaction is a ________
A) stock; stock B) flow; flow C) flow; stock D) stock; flow
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Answer the following statement true (T) or false (F)