An industry that has many sellers offering slightly differentiated products is called:
A. perfectly competitive.
B. monopolistic.
C. oligopolistic.
D. monopolistically competitive.
Answer: D
Economics
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In a capitalabundant country, free trade will cause a(n) __________ in the rental of capital and a(n) ____________ in the marginal product of capital.
a. increase; increase b. increase; decrease c. decrease; decrease d. decrease; increase
Economics
The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, the
A) allocation of resources is efficient. B) market equilibrium produces 800 tons more than the efficient amount. C) market equilibrium produces 1,600 tons more than the efficient amount. D) market equilibrium produces 800 tons less than the efficient amount.
Economics