Under monopolistic competition, a firm's ability to influence the price of the product it sells arises because:
A. each seller sells a standardized product.
B. the product of each seller is differentiated from that of others.
C. sellers in the market have large market shares.
D. sellers in the market have small market shares.
Answer: B
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Explain why these data do not communicate whether the regulations outlined by the CAAA of 1990 are efficient.
According to the EPA’s prospective analysis of the 1990 to 2010 period, total social benefits (TSB) associated with the CAAA of 1990 are estimated at $690 billion ($1990) and the comparable total social cost (TSC) estimates are $180 billion ($1990).
For a common resource, efficiency requires that the ________ equals the ________
A) marginal private benefit; marginal private cost B) marginal social benefit; marginal social cost C) marginal private benefit; marginal social benefit D) marginal social cost; marginal private cost
Describe the effect education and training have on outcomes in the labor market
What will be an ideal response?
Which of the following is true?
A) The loanable funds model is essentially a model that determines the long-term nominal rate of interest. B) The loanable funds model is essentially a model that determines the short-term real rate of interest. C) The money market model is essentially a model that determines the short-term real rate of interest. D) The money market model is essentially a model that determines the short-term nominal rate of interest.