A firm in monopolistic competition
A) has no control over the price of the product it is selling.
B) might be selling a brand name product.
C) does not advertise nor market its product.
D) Both answers A and B are correct.
E) Answers A, B, and C are correct.
B
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A borrower defaults on a loan when he stops making payments on the loan
Indicate whether the statement is true or false
If world markets change so that the U.S. dollar is no longer the primary reserve currency, the exchange rate value of the dollar would rise
Indicate whether the statement is true or false
Finkelstein and McKnight (2008) provide an empirical estimate of the benefits to seniors of the 1965 introduction of Medicare. Which of the following statements is true concerning the results of this study?
a. There is evidence of a significant reduction in mortality from specific causes (e.g., cardiovascular disease) and the mortality rates of certain vulnerable population groups (e.g., non-whites). b. The introduction of Medicare in 1965 played an essential role in the decline in mortality rates for the elderly over the following decade. c. The real impact of the introduction of Medicare was on the reduction in out-of-pocket health care spending for households faced with catastrophic events (those in the top 25 percent of spenders). d. The long-run benefits of Medicare may be due to encouraging the use of preventive care to control chronic illnesses.
Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is ten percent per year. How fast did the economy grow between these two years?
A. 10 percent B. 12 percent C. 21 percent D. 42 percent