For a monopolistically competitive market, the number of firms in the market implies that
A) each firm faces a perfectly elastic demand.
B) all firms will make losses.
C) each firm acts independently of other firms.
D) firms will collude to set monopoly price and output.
C
Economics
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Refer to Table 9-12. All of the following are terms of trade that could possibly benefit both countries except
A) 1 belt : 1.75 swords. B) 1 belt : 1.25 swords. C) 1 belt : 1.33 swords. D) 1 belt : 2.25 swords.
Economics
Demand-pull inflation is caused by a rightward shift of the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Economics