In monopolistic competition, each firm supplies a ________ part ...

[mrsjacobs44]

In monopolistic competition, each firm supplies a ________ part of the total market output and its actions ________ the actions of the other firms.
 
  A) small; do not directly affect
  B) small; directly affect
  C) large; do not directly affect
  D) large; directly affect

Question 2

Higher resource costs shift the
 
  A) long-run aggregate supply curve leftward, decreasing real GDP and increasing potential GDP.
  B) short-run aggregate supply curve leftward, raising the price level and decreasing potential GDP.
  C) short-run aggregate supply curve leftward, raising the price level and decreasing real GDP so it is less than potential GDP.
  D) short-run aggregate supply curve rightward, raising the price level and decreasing real GDP so it is less than potential GDP.

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Answer to Question 1

A

Answer to Question 2

C

[mrsjacobs44]

Excellent

[Alyson.hiatt@yahoo.com]

Gracias!