In which market structures is there product differentiation?
A) perfect competition and monopolistic competition
B) monopolistic competition and oligopoly
C) oligopoly and monopoly
D) perfect competition and monopoly
Answer: B
Economics
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The firm in the figure above is in monopolistic competition. The firm has
A) no excess capacity. B) excess capacity of 10 units. C) excess capacity of 20 units. D) excess capacity of 30 units.
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Moral hazard and adverse selection are the result of
A) poorly functioning markets. B) government intervention. C) private information. D) treachery.
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