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

Author Question: Which of the following is true of monopolistic competition? A) There is only one seller in this ... (Read 25 times)

Evvie72

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
Which of the following is true of monopolistic competition?
 
  A) There is only one seller in this market structure.
  B) The product sold by each seller in this market structure is identical.
  C) The firms in this market structure earn huge economic profits in the long run.
  D) There are a large number of sellers each selling a differentiated product.

Question 2

Which of the following is TRUE regarding marginal benefit? I) The marginal benefit curve shows the benefit firms receive by producing another unit of a good. II) Marginal benefit increases as more of a good is consumed.
 
  A) I and II
  B) I only
  C) II only
  D) neither I nor II


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli1

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Evvie72

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
Gracias!

Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Competition in a forest can be as intense as competition on a coral reef. However, much of the compe Competition in a forest can be as intense as competition on a coral reef. However, much of the compe
Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
True-color image of layers of haze in Titan's atmosphere. True-color image of layers of haze in Titan's atmosphere.
(a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit (a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit
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 recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Video: Muscular System Animation

For a complete list of videos, visit our video library