A monopolistically competitive industry has
A) significant barriers to entry.
B) differentiated products.
C) mutually dependent firms.
D) a small number of large firms.
B
Economics
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Suppose there has been an increase in supply and a decrease in demand. In which of the following cases would the equilibrium quantity be indeterminate?
a. The supply curve shifts a measurable amount to the right. b. The demand curve shifts a measurable amount to the left. c. The relative size of the shifts in the two curves is unknown. d. The relative size of the shifts in the two curves is equal.
Economics
Equilibrium price is _____ and equilibrium quantity is ______ units.
A. $12; 20
B. $12; 30
C. $20; 20
D. $20; 30
Economics