The definition of monopolistic competition differs from that of perfect competition
A. with respect to the number of firms in the industry.
B. with respect to the type of product.
C. in both the number of firms and the type of product.
D. in neither the number of firms nor the type of product.
B. with respect to the type of product.
Economics
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In the early colonies, private landholdings
a. gradually replaced common ownership. b. occasionally supplemented common ownership. c. were only legalized after 1650. d. were the norm from the very beginning of colonization.
Economics
According to classical economists, the price level will remain unchanged as long as the growth rate of M equals
a. the growth rate of Q b. the growth rate of P c. the growth rate of V d. the inflation rate e. zero
Economics