Unlike a monopolistic firm's product, a monopolistically competitive firm's product
A. has no close substitutes.
B. has many close substitutes.
C. is homogeneous.
D. is a unique product.
Answer: B
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The income per capita in Baltonia is 64,163 in Baltonian currency. If the price of a basket of goods worth $1 in the U.S. is 5.50 units of Baltonian currency, Baltonia's income per capita in purchasing power parity is:
A) $11,666. B) $10,257.48. C) $2,832. D) $15,624.50. The price of a given basket of goods in Country 1 is 10 karls. The price of the same basket of goods in Country 2 is 25 ritz and $2 in the U.S. Country 1 has a income per capita of 3,200 karls and Country 2 has a income per capita of 5,500 ritz.
In the aggregate demand and supply model, the:
A. aggregate supply curve is horizontal at full-employment real GDP. B. vertical axis measures real GDP. C. vertical axis measures the overall price level. D. horizontal axis measures the overall price level.
If a monopolist in the output market purchases its monopoly supplier of labor, consumers benefit
What will be an ideal response?
Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four. Sodas were allocated between Mandy and her brother through
A) force. B) majority rule. C) first-come, first-served. D) sharing equally. E) personal characteristics.