Author Question: One prediction about monopolistic competition as a market structure is that it has higher unit costs ... (Read 53 times)

Ethanolson3 · **on:** Oct 12, 2022

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.

leilani49 · **Reply #1 on:** Oct 12, 2022

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 59% of students answer this correctly