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Author Question: Production efficiency exists when the least cost combination of inputs is used to produce output. ... (Read 22 times)

Collmarie

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on: Jun 30, 2018
Production efficiency exists when the least cost combination of inputs is used to produce output.
 a. True
  b. False

Question 2

Monopolistic competition is best described as
 a. many firms with some control over price, and some product differentiation
  b. many firms with no control over price, producing identical products
  c. a few firms with some control over price, producing highly differentiated products
  d. a few firms with no control over price, producing similar products
  e. a single firm producing all of the output for the industry, with strong control over price


Yixagurpuldink

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


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