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Author Question: Perfect competition and monopolistic competition are similar in that both market structures include ... (Read 251 times)

aabwk4

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on: Jul 1, 2018
Perfect competition and monopolistic competition are similar in that both market structures include
 
  A) price-taking behavior by firms.
  B) a homogeneous product.
  C) no barriers to entry.
  D) very few firms.

Question 2

Assume a firm lowers price below marginal cost to deter entry.
 
  A) This strategy is not credible.
  B) This strategy is credible.
  C) This strategy is illegal.
  D) This strategy is immoral.
Microeconomics ¦ Perloff ¦ 8th Edition
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Jayson

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


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