Author Question: Which of the following statements regarding the efficiency of monopolistic competition is FALSE? ... (Read 54 times)

B

  • Hero Member
  • *****
  • Posts: 570
Which of the following statements regarding the efficiency of monopolistic competition is FALSE?
 
  A) Compared to a situation with total product uniformity, monopolistic competition might be efficient.
  B) Resources are used efficiently when marginal social benefits equals marginal social cost.
  C) Monopolistic competition is definitely inefficient because price exceeds marginal cost.
  D) A greater degree of product variety creates a loss because the quantity produced is less than the efficient quantity.

Question 2

An indifference curve will become ________ the origin the more that the consumer considers the two goods as complements.
 
  A) more bowed-in towards
  B) less bowed-in towards
  C) less bowed-out from
  D) more bowed-out from



tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

For a complete list of videos, visit our video library