The women's dress industry is monopolistically competitive because each firm has
A) a large market share.
B) a very small market share.
C) no market share.
D) no competition for their market share.
E) struck a deal with the many other firms about what price will be charged.
B
Economics
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If the price of garlic is represented by equation P = 25 - QD, then the corresponding quantity of garlic demanded is represented by the equation
A) QD = -25 + P. B) QD = P + 25. C) QD = P - 25. D) QD = 25 - P.
Economics
A Nash equilibrium occurs when
A) each firm is doing the best it can given its opponents' actions. B) each firm chooses the strategy that maximizes its minimum gain. C) a player can choose a strategy that is optimal regardless of its rivals' actions. D) there is no dominant firm in a market.
Economics