Author Question: As firms exit a monopolistically competitive market, profits of existing firms ____ and product ... (Read 131 times)

Jipu 123 · **on:** Jun 30, 2018

As firms exit a monopolistically competitive market, profits of existing firms ____ and product diversity in the market ____.
a. decline; decreases
b. rise; decreases
c. rise; increases
d. decline; increases

Question 2

Under both the gold standard and the gold exchange standard countries bought and sold U.S. dollars to maintain a fixed exchange rate with the dollar.
a. True
b. False
Indicate whether the statement is true or false