Which statement is true?
A. The monopolistic competitor is often a large firm.
B. Most firms in the U.S. are not monopolistic competitors.
C. Price discrimination is impossible under monopolistic competition.
D. None of these statements are true.
D. None of these statements are true.
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A change in the demand for apples could result from any of the following EXCEPT
A) a change in the number of buyers. B) increased preferences for fresh fruit consumption for health reasons. C) a change in the price of an apple. D) a change in the price of a banana. E) a change in income.
The Commons Problem could be addressed by
A) charging a fee proportional to the use of the common property. B) charging a fee unrelated to the use of the common property. C) charging no fee. D) prohibiting the use of the common property.