A monopolistically competitive industry is like a perfectly competitive industry in the sense that:
a. non-price competition is significant in both industries.
b. there are no substantial barriers to entry in both cases.
c. economic profits in long run equilibrium are zero in both cases.
d. both (b) and (c) are true.
Question 2
An externality can occur when:
a. a voluntary transaction between two individuals creates economic value.
b. a person's action affects another's wealth either positively or negatively.
c. a self-interested individual tries to maximize his/her profits.
d. a voluntary transaction between two individuals creates economic loss.
Structures involved in the sense of taste.
competitive inhibition
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
A substrate and its competitive inhibitor
Kyoto Protocol encourages industry to innovate and reduce the level of emissions
Industry is responsible for 21% of global greenhouse gas emissions