In monopolistic competition A) each firm's price cannot ...

[Beheh]

In monopolistic competition
 
  A) each firm's price cannot deviate from the average price of other firms.
  B) each firm supplies a small part of the total market output.
  C) one firm's actions directly affect the actions of the other firms.
  D) collusion is possible.

Question 2

For a single-price monopolist, price is ________ marginal revenue.
 
  A) less than
  B) greater than
  C) equal to
  D) less than or equal to but never more than

[yotaSR5]

Answer to Question 1

B

Answer to Question 2

B