P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. P-TV will air a sitcom:

How is a monopolistically competitive market similar to a perfectly competitive market? Do monopolistically competitive markets and monopolies share any common features?

What will be an ideal response?

The California gold rush resulted in

A) an increase in the amount of money in circulation and higher prices throughout the country. B) no change in the amount of money in circulation and higher prices throughout the country. C) an increase in the amount of money in circulation and higher prices only in California. D) no change in the amount of money in circulation and higher prices only in California.