This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the 1920s and 1930s, economists became increasingly aware that there were industries that did not ... (Read 165 times)

SAVANNAHHOOPER23

  • Hero Member
  • *****
  • Posts: 542
on: Jun 29, 2018
In the 1920s and 1930s, economists became increasingly aware that there were industries that did not fit the model of perfect competition or pure monopoly. Two separate theories of monopolistic competition resulted.
 
  Edward Chamberlin of Harvard published the Theory of Monopolistic Competition in 1933. Chamberlin defined monopolistic competition as A) a relatively large number of producers offering similar but differentiated products.
  B) a relatively small number of producers offering similar but differentiated products.
  C) a market situation in which a large number of firms produce identical products.
  D) a market situation in which a small number of firms produce similar products.

Question 2

One of the strongest reasons that oligopolies exist is due to
 
  A) the homogeneity of their products.
  B) marginal cost pricing.
  C) lowest cost production.
  D) economies of scale.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SVictor

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


SAVANNAHHOOPER23

  • Member
  • Posts: 542
Reply 2 on: Jun 29, 2018
:D TYSM

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it. In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o
Economic activity as viewed by environment and ecological economists Economic activity as viewed by environment and ecological economists
Productivity in Selected Industries in the Early 1990s Productivity in Selected Industries in the Early 1990s
In Canada, disease-related deaths become increasingly common during middle adulthood In Canada, disease-related deaths become increasingly common during middle adulthood
Video: Chemical Buffers - protein buffer, phosphate buffer system and bicarbonate buffer system

For a complete list of videos, visit our video library