Restaurants, video rental stores, clothing stores, and music stores are examples of industries in which firms differentiate their products by offering them at more locations. This is an example of a(n) ________ market.
A. perfectly competitive
B. monopoly
C. monopolistically competitive
D. oligopoly
Answer: C
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Identify the approach used by the Environmental Protection Agency (EPA) to enforce environmental standards
a. pollution taxes b. least-cost method c. compliance standards d. pollution rights
Legal and social rules that affect the ownership of property are:
A. the coincidence of wants. B. the division of labor. C. the freedom of enterprise. D. property rights.
A system in which depository institutions hold reserves that are less than the amount of total deposits is
A. sweep accounts. B. the Federal Reserve System. C. the federal funds market. D. fractional reserve banking.
If price were set by the government at $3, there would be a price _____________, that would cause a ___________ of _______ units.
A. floor; surplus; 12
B. floor; shortage; 12
C. ceiling; surplus; 14
D. ceiling; shortage; 14