Unlike a monopolistically competitive firm's product, a monopolistic firm's product
A. has no close substitutes.
B. has many close substitutes.
C. has a vertical demand curve.
D. is homogeneous.
Answer: A
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_____ is determined by subtracting exemptions and deductions from total income
a. Adjusted gross income b. Taxable income c. Tax base d. Disposable income
Which of the following is a correct statement?
A. A firm receives no individual benefit from strategies that raise the marginal costs of its rivals. B. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. C. Predatory pricing is easy to prove in a court of law. D. No individual firm can benefit from strategies that raise the fixed costs of all the firms in the industry.
All of the following represent government spending as a part of aggregate demand except for:
A. Flood control. B. National parks. C. Police and fire protection. D. Social Security checks
In the ultimatum game, if neither the allocator nor the recipient cared about fairness, what would be the optimal distribution of $20.00?
a. $19.99 for the allocator and $0.01 for the recipient b. $10.00 for the allocator and $10.00 for the recipient c. $19.99 for the recipient and $0.01 for the allocator d. $20.00 for the allocator and nothing for the recipient