Which of the following is true of firms in both monopolistic competition and perfect competition?
a. Firms face a horizontal demand curve.
b. Price exceeds marginal revenue.
c. Firms can enter and leave the industry with relative ease.
d. Price exceeds marginal cost.
e. Products are differentiated.
Question 2
Environmentalists, worried about sulfur dioxide in the air, pressure the government to require bus manufacturers to modify exhaust systems in buses. In this situation,
a. benefits of the proposed requirements are more widespread than costs
b. benefits and costs of the proposed requirements are equally widespread because producers of buses will pass cost increases on to bus companies who will increase fares
c. pressure for government regulation is unnecessary because those who use buses will stop riding buses if they don't have cleaner emissions
d. bus riders are more likely to lobby against the proposal than are bus producers
e. bus riders are more likely to lobby against the proposal than are bus workers
A horse and rider in dressage competition at the Olympics
True-color image of layers of haze in Titan's atmosphere.
Adapoids and omomyoids had longer snouts and are the first “true” primates.
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
True Dover Sole
Biking competition in the park