Monopolistically competitive markets differ from perfectly competitive markets due to (i) the number of sellers. (ii) the barriers to entry. (iii) the product differentiation among the sellers
a. (i) only
b. (iii) only
c. (i) and (iii) only
d. (ii) and (iii) only
b
Economics
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Which of the following is not a factor that can shift the short-run aggregate supply curve?
A) changes in the wage rate B) changes in the price of non-labor inputs such as oil C) changes in labor productivity D) a severe drought which extensively damages grain crops E) none of the above
Economics
Holding all prices fixed, income-demand curves relate changes in exogenous income to changes in the quantity of a good demanded.
Answer the following statement true (T) or false (F)
Economics