Although Coca-Cola and PepsiCo are major players in the soft drink industry, the large number of other competing firms means that the industry is most accurately characterized as monopolistically competitive

Indicate whether the statement is true or false

FALSE

Economics

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It is possible for one person to have a comparative advantage in the production of all products?

a. True b. False

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Economics

When very few substitutes for a good exist, demand will be

A) elastic. B) unit-elastic. C) inelastic. D) perfectly elastic.

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Economics