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 41 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
Thanks for the timely response, appreciate it

phuda

  • Member
  • Posts: 348
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

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
In middle childhood, children are increasingly able to understand other people’s thoughts, ... In middle childhood, children are increasingly able to understand other people’s thoughts, ...
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: Glycolysis Animation

For a complete list of videos, visit our video library