The demand for bus service is perfectly elastic at a price of $1.00 a ride. The table above shows the bus company's marginal cost and the marginal social cost of the bus service. The competitive quantity of bus rides per week is ________

Monopolistic competition describes a market with:

A. many firms that sell goods and services that are standardized. B. many firms that sell goods and services that are similar, but slightly different. C. few firms that sell goods and services that are standardized. D. few firms that sell goods and services and some barriers to entry.

Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,

A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.