In a monopolistic competitive industry, firms can try to differentiate their products by
A. creating optimal perceptions of the product.
B. choosing optimal locations from which the product is sold.
C. enhancing the intangible aspects of the product.
D. all of the above
Answer: D. all of the above
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The marginal cost curve
A) shows the maximum price that a producer must receive to induce it to produce a unit of a good or service. B) shows the minimum price sellers must receive to produce a unit of a good or service. C) is the same as the demand curve. D) shows what buyers are willing to give up to get one more unit of a good or service.
Milton Friedman's theory of the demand for money
A) is similar to Tobin's portfolio approach to the demand for money. B) includes permanent income as one of the significant variables. C) includes the yields on competing nonmonetary assets. D) All of the above.