Author Question: Who operates and controls a corporation in its day-to-day activities? A) employees B) ... (Read 26 times)

moongchi · **on:** Jun 29, 2018

Who operates and controls a corporation in its day-to-day activities?

A) employees B) stockholders
C) the board of directors D) management

Question 2

How are the products sold by a monopolistically competitive firm different from the products sold in a competitive market?

What will be an ideal response?

Rilsmarie951 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

D

Answer to Question 2

In a competitive market, the products sold by each producer are identical to the products sold by other firms. In other words, the products sold in a competitive market are homogeneous and are perfect substitutes for each other. However, in a monopolistically competitive market, the products are differentiated. The products are close substitutes but are not identical.