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Author Question: Which of the following describes monopolistic competition? A) homogeneous products B) P = MR = ... (Read 58 times)

s.tung

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on: Jun 29, 2018
Which of the following describes monopolistic competition?
 
  A) homogeneous products
  B) P = MR = MC
  C) Advertising plays a key role.
  D) There is only one seller in the industry.

Question 2

According to the above table, the four-firm concentration ratio of this industry is
 
  A) 69.2 percent.
  B) 35.1 percent.
  C) 66.7 percent.
  D) 67.5 percent.


Liamb2179

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


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