This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true of monopolistic competition? A) There is only one seller in this ... (Read 15 times)

Evvie72

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
Which of the following is true of monopolistic competition?
 
  A) There is only one seller in this market structure.
  B) The product sold by each seller in this market structure is identical.
  C) The firms in this market structure earn huge economic profits in the long run.
  D) There are a large number of sellers each selling a differentiated product.

Question 2

Which of the following is TRUE regarding marginal benefit? I) The marginal benefit curve shows the benefit firms receive by producing another unit of a good. II) Marginal benefit increases as more of a good is consumed.
 
  A) I and II
  B) I only
  C) II only
  D) neither I nor II


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli1

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Evvie72

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

dawsa925

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Biking competition in the park Biking competition in the park
Video: Atrophy

For a complete list of videos, visit our video library