Kathleen pays an annual tax on her Porsche. The tax is based on the market value of her car. This is an example of a(n) _____

Which of the following features is characteristic of monopolistic competition?

a. many large producers b. homogeneous products c. differentiated products d. No individual producer has any influence on the market price.

The optimal purchase rule is stated as

a. TU = MU. b. MU = P. c. TU = P. d. MU = 0.