Which of the following examples shows monopolistic competition?
a. RKS Communications has no other competitors in the GPS market.
b. Johnson Acres produces corn that is identical to the corn produced by other farms.
c. Bubbly Soft Drinks emphasizes it has a lower price than other soft drink brands.
d. Pleasant Dreams is one of the few firms in the antique jewelry market.
c. Bubbly Soft Drinks emphasizes it has a lower price than other soft drink brands.
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When there is a tendency for a particular product to fall out favor with additional consumers because other consumers have chosen not to purchase the product
A) negative market feedback occurs. B) positive market feedback occurs. C) the tit-for-tat strategy will begin. D) the network effect will increase.
Income that is received but not earned is known as
a. transfer payments b. personal income c. national income d. disposable income e. depreciated income