Author Question: Which of the following statements regarding the efficiency of monopolistic competition is FALSE? ... (Read 59 times)

B

  • Hero Member
  • *****
  • Posts: 570
Which of the following statements regarding the efficiency of monopolistic competition is FALSE?
 
  A) Compared to a situation with total product uniformity, monopolistic competition might be efficient.
  B) Resources are used efficiently when marginal social benefits equals marginal social cost.
  C) Monopolistic competition is definitely inefficient because price exceeds marginal cost.
  D) A greater degree of product variety creates a loss because the quantity produced is less than the efficient quantity.

Question 2

An indifference curve will become ________ the origin the more that the consumer considers the two goods as complements.
 
  A) more bowed-in towards
  B) less bowed-in towards
  C) less bowed-out from
  D) more bowed-out from



tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

For a complete list of videos, visit our video library