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Author Question: Which of the following is true of monopolistic competition? A) There is only one seller in this ... (Read 16 times)

Evvie72

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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


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janeli1

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

D

Answer to Question 2

D


Evvie72

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

ktidd

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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