In the model of monopolistic competition, an increase in industry ...

[P68T]

In the model of monopolistic competition, an increase in industry output will ________ market shares and ________ profits of producers of higher-priced goods and will ________ market shares and ________ profits of producers of lower-priced goods.
 
  A) reduce; reduce; increase; increase
  B) increase; increase; reduce; reduce
  C) increase; reduce; increase; reduce
  D) reduce; increase; reduce; increase
  E) reduce; increase; increase; reduce

Question 2

The shipbreakers of Alang are
 
  A) a metaphysical representation of the WTO, deriving from Edgar Rice Burroughs' Princess of Mars.
  B) an early version of the Russian Ice-breaker of the Dnieper-Alang class.
  C) a capital-intensive industry.
  D) competing with pollution-producing industries in countries outside of India.
  E) doing environmentally conscious work.

[Jevvish]

Answer to Question 1

A

Answer to Question 2

D

[P68T]

TYSM

[shewald78]

Excellent