This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is NOT true of monopolistic competition? A) Firms produce a good that is a ... (Read 72 times)

Alainaaa8

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
Which of the following is NOT true of monopolistic competition?
 
  A) Firms produce a good that is a perfect substitute for their competitors' goods.
  B) There is free entry and exit.
  C) There are a large number of firms.
  D) Firms can compete on price and quality.

Question 2

The costs incurred even when no output is produced are called
 
  A) fixed costs.
  B) variable costs.
  C) external costs.
  D) marginal costs.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nanny

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


Alainaaa8

  • Member
  • Posts: 576
Reply 2 on: Jun 29, 2018
Excellent

mochi09

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Basidiomycetes produce diverse fruiting bodies. Basidiomycetes produce diverse fruiting bodies.
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
A good Mnemonic to know Mg K Ca Na A good Mnemonic to know Mg K Ca Na
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Bt corn has been genetically engineered to produce a protein Bt corn has been genetically engineered to produce a protein
Competitive firms and maximization Competitive firms and maximization
Video: Cytotoxic T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library