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Author Question: A monopolistically competitive firm faces a downward-sloping demand curve because A) of product ... (Read 162 times)

bobbie

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on: Jun 29, 2018
A monopolistically competitive firm faces a downward-sloping demand curve because
 
  A) of product differentiation.
  B) its market decisions are affected by the decisions of its rivals.
  C) it is able to control price and quantity demanded.
  D) there are few substitutes for its product.

Question 2

Which of the following is not a characteristic of a perfectly competitive market structure?
 
  A) There are restrictions on exit of firms.
  B) There are no restrictions to entry by new firms.
  C) There are a very large number of firms that are small compared to the market.
  D) All firms sell identical products.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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ebonylittles

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

A

Answer to Question 2

A


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