Which of the following is the best example of a monopolistically competitive industry?
A) land-based long distance telephone service
B) wheat farming
C) the local electricity producer
D) manufacturing of shirts
E) cable television
D
You might also like to view...
In Figure 3-2, a point such as E
A. is not obtainable. B. is an efficient use of resources. C. represents an inefficient allocation of resources. D. indicates that the society is a capitalist society.
The nominal interest rate is 7% and the real interest rate is 2.75%. What is the inflation rate?
A) 3.75% B) 4.55% C) 4.25% D) 9.75%
If aggregate demand shifts outward, the result will be inflation
a. True b. False Indicate whether the statement is true or false
When the price is $5
A. quantity supplied is greater than quantity demanded and, therefore, price must rise to get to equilibrium.
B. quantity supplied is greater than quantity demanded and, therefore, price must fall to get to equilibrium.
C. quantity demanded is greater than quantity supplied and, therefore, price must rise to get to equilibrium.
D. quantity demanded is greater than quantity supplied and, therefore, price must fall to get to equilibrium.