Compared to the perfectly competitive outcome, monopolistically competitive markets will result in:
a. a wider variety of products and higher prices.
b. less product variety and higher prices.
c. a wider variety of products and lower prices.
d. less product variety and lower prices.
a
Economics
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If the price of chewing gum is represented by P in equation P = 25 - 0.5 QD, then the corresponding quantity of chewing gum demanded is represented by the demand equation
A) QD = 2P - 0.5. B) QD = 0.5P + 25. C) QD = -5 + 10P. D) QD = 50 -2P.
Economics
The stimulation of a large economy aimed at increasing growth in the rest of the world is commonly known as
A) pass-through effect. B) locomotive effect C) investment effect. D) domino effect.
Economics