Entry into a monopolistic competitive industry
A) is easy.
B) is hard.
C) requires governmental approval.
D) requires collusion.
A
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If there are no trade restrictions, a country will import a particular good if
a. domestic quantity supplied equals domestic quantity demanded at the world price b. there is excess domestic quantity demanded at the world price c. world quantity supplied is less than world quantity demanded d. world quantity supplied is greater than world quantity demanded e. domestic quantity supplied is greater than domestic quantity demanded at the world price
Assuming that generic brands are inferior goods, an increase in consumer income, other things being equal, will cause a(n):
a. leftward shift in the demand curve for generic goods. b. downward movement along the demand curve for generic goods. c. rightward shift in the demand curve for generic goods. d. upward movement along the demand curve for generic goods.