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 40 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
Excellent

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

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.

The frequency of competition according to the number of species involved. The frequency of competition according to the number of species involved.
Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital" Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
(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
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library