Author Question: Which of the following is a characteristic of monopolistic competition? A) The actions of one ... (Read 44 times)

elizabeth18

  • Hero Member
  • *****
  • Posts: 559
Which of the following is a characteristic of monopolistic competition?
 
  A) The actions of one firm affect all the other firms.
  B) Any one company has little or no influence on price.
  C) A very few companies dominate the market.
  D) Customers have few viable substitutes available and because of this, are less responsive to changes in price.
  E) Firms have the ability to differentiate their products from competitors.

Question 2

Bargaining power refers to ________.
 
  A) the process of choosing to sell new products in completely new markets
  B) the firm's ability to create new products and sell these to the existing customers
  C) the ability of the firm to differentiate its products from competitors' products
  D) the degree of influence that a producer or consumer has in influencing what the selling price will be
  E) the resources and capabilities that allow a firm to grow in the future by making new products or selling to new customers



kthug

  • Sr. Member
  • ****
  • Posts: 332
Answer to Question 1

E

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

For a complete list of videos, visit our video library