A monopolistically competitive industry is like a perfectly competitive industry in the sense that:
a. non-price competition is significant in both industries.
b. there are no substantial barriers to entry in both cases.
c. economic profits in long run equilibrium are zero in both cases.
d. both (b) and (c) are true.
Question 2
An externality can occur when:
a. a voluntary transaction between two individuals creates economic value.
b. a person's action affects another's wealth either positively or negatively.
c. a self-interested individual tries to maximize his/her profits.
d. a voluntary transaction between two individuals creates economic loss.
Structures involved in the sense of taste.
A Sense of Ethnicity
The impact of industry and manufacturing on our life
Position sense of joint movement
Project Management: Achieving Competitive Advantage
Selected Narrow Sense Heritability (h2) Values for Animals and Plants