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Author Question: One prediction about monopolistic competition as a market structure is that it has higher unit costs ... (Read 31 times)

Ethanolson3

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Question 1

Which of the following refers to products that differ from each other enough that they can be sold at different prices, but are similar enough that they can be considered the same product?
◦ necessary products
◦ standardized products
◦ complementary products
◦ differentiated products
◦ inferior products

Question 2

One prediction about monopolistic competition as a market structure is that it has higher unit costs than perfect competition. But it is unreasonable to conclude that monopolistic competition is therefore bad for consumers because
◦ consumers benefit from products becoming more homogeneous.
◦ higher production costs means more employment.
◦ consumers benefit from lower prices.
◦ consumers benefit because of an increase in quantity available.
◦ consumers benefit from an increased variety of products.


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Marked as best answer by Ethanolson3 on Oct 12, 2022

leilani49

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Ethanolson3

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review


yeungji

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Reply 3 on: Yesterday
Excellent

 

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