Firms ________ in monopolistic competition due to product differentiation.
A. gain control over price
B. have blocked entry
C. have no control over price
D. are limited in number
Answer: A
Economics
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Crowding out will be more pronounced the closer to vertical is the
A) IS curve. B) LM curve. C) consumption function. D) aggregate demand function.
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Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals
A) -1.5. B) -0.67. C) -4. D) -2.5.
Economics