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Author Question: Which of the following is NOT true of monopolistic competition? A) Firms produce a good that is a ... (Read 28 times)

Alainaaa8

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on: Jun 29, 2018
Which of the following is NOT true of monopolistic competition?
 
  A) Firms produce a good that is a perfect substitute for their competitors' goods.
  B) There is free entry and exit.
  C) There are a large number of firms.
  D) Firms can compete on price and quality.

Question 2

The costs incurred even when no output is produced are called
 
  A) fixed costs.
  B) variable costs.
  C) external costs.
  D) marginal costs.


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nanny

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Alainaaa8

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

bdobbins

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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