Author Question: In a monopolistically competitive market, entry into the industry A) is relatively easy. B) is ... (Read 117 times)

elizabeth18 · **on:** Jun 29, 2018

In a monopolistically competitive market, entry into the industry

A) is relatively easy.
B) is blocked.
C) is difficult due to extensive government regulation.
D) is as difficult as entry into a monopoly.

Question 2

The President's statement that to encourage economic growth, taxes should be cut

A) would be an example of a normative statement.
B) would be an example of a positive statement.
C) would be an example of a microeconomic statement.
D) would be a statement of mercantilist economic philosophy.