Which of the following is NOT a characteristic of monopolistic competition?
A) a large number of sellers in a highly competitive market
B) differentiated products
C) the existence of advertising
D) marginal cost pricing in the long run
Answer: D
Economics
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Economics demonstrates that opening up unrestricted free international trade is beneficial to all nations. However, are there any losers from such a policy change?
What will be an ideal response?
Economics
Mergers are closely scrutinized by the government because
A) they might allow the firms involved to dominate the market and act as a legalized cartel (monopoly). B) they always result in a more efficient market. C) they always result in lower joint profits of the firms involved. D) all mergers are undesirable.
Economics