The monopolistically competitive firm differs from monopoly in that its
a. demand curve is flatter.
b. demand curve slopes downward.
c. MR curve lies below its demand curve.
d. profit is maximized where MR = MC.
a
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The Shipbreakers of Alang utilize much labor and little capital, thereby supporting the applicability of the
A) factor proportions explanation of the sources of comparative advantage. B) specific factor theory of comparative advantage. C) monopolistic competition theory of comparative advantage. D) scale economies theory of comparative advantage. E) basis of the non-dumping legislation.
Does an increase in the inflation rate increase or decrease the amount of money people choose to hold at any given price level? What would an increase in the inflation rate do to money demand? What would this change in money demand do to the price level?