Monopolistic competition differs from perfect competition because
A. monopolistic competitors have few firms in each industry.
B. monopolistic competitors have a significant influence over the market price.
C. monopolistic competitors do not produce at the lowest point on the average total cost curve.
D. monopolistic competitors can make a profit even in the long run.
C. monopolistic competitors do not produce at the lowest point on the average total cost curve.
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It is interesting to note that several countries around the world actually make voting compulsory.According to the CIA's World Factbook, as of August 2013, voting is mandatory in 22 countries
Although this law is not enforced in many of these countries, in several nations citizens who do not comply are subject to fines. Give arguments for and against making voting compulsory.
For years, your neighbor insisted she had no desire to own a computer. Recently, however, she purchased one and says she did so because all her relatives have computers and she wants to exchange e-mail with them. Your neighbor's behavior is an example of
A) a switching cost. B) the impact of negative market feedback. C) limited-pricing behavior. D) a network effect.