When firms enter a monopolistically competitive industry, the demand curves of the remaining firms in the industry

A. shift to the left.
B. shift to the right.
C. shift upward.
D. do not change.


Answer: A

Economics

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A) you will then be able to charge higher prices than alternative suppliers. B) you will be able to gain at the expense of others. C) you will not have to compete in the job market. D) others will be willing to pay attractive prices for things they value.

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What is the Portugal's opportunity cost of producing 3 bottles of wine?


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Suppose the demand for a particular product can be expressed as Q = 100/p. Calculate the total amount spent on this good when p = 10, 20, and 50. Can you make a generalization about the mathematical form of this demand curve and consumer behavior in this market?

What will be an ideal response?

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The text mentions 10 sources of U.S. comparative advantage. Which of the following is not one of them?

A. The fact that English is the international language of business B. Extensive natural resources C. A substantial policy to limit immigration D. Wealth from past production

Economics