The demand curve in monopolistic competition slopes downward ...

[evelyn o bentley]

The demand curve in monopolistic competition slopes downward because of:
 a. strong barriers to entry.
  b. product differentiation.
  c. the small number of firms.
  d. government regulation.
  e. the similarities of the businesses.

Question 2

Unlike implicit costs, explicit costs:
 a. reflect opportunity costs.
  b. include the value of the owner's time.
  c. are not included in the accounting statement of the firm.
  d. are actual cash payments.
  e. do not change with the output rate of the firm.

[cici]

Answer to Question 1

b

Answer to Question 2

d