Author Question: Firms in a monopolistically competitive industry produce: a. homogeneous goods and services. b. ... (Read 71 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
Firms in a monopolistically competitive industry produce:
 a. homogeneous goods and services.
  b. differentiated products.
  c. competitive goods only.
  d. consumption goods only.

Question 2

Consumers always prefer indifference curves that are ____ the origin.
 a. closer to
  b. tangent to
  c. farther from
  d. concave relative to



macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

b

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

For a complete list of videos, visit our video library