Author Question: The main difference between perfect competition and monopolistic competition is: a. The number of ... (Read 88 times)

cherise1989 · **on:** Jul 1, 2018

The main difference between perfect competition and monopolistic competition is:
a. The number of sellers in the market
b. The ease of entry and exit in the industry
c. The degree of information about market price
d. The degree of product differentiation
e. Whether it is the short run or the long run

Question 2

Vertical contracts between manufacturers and retailers often aim to
a. Incentivize the manufacturers to undertake costly activities, which they otherwise may not realize the full benefits of on their own
b. Reward the manufacturers for undertaking the risk inherent in introducing a new product
c. Serve as a signal of the manufacturer's belief of the likely success of his product
d. All of the above