One difference between oligopoly and monopolistic competition is that
A) a monopolistically competitive industry has fewer firms.
B) in monopolistic competition, the products are identical.
C) monopolistic competition has barriers to entry.
D) fewer firms compete in oligopoly than in monopolistic competition.
D
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Companies are never justified in not installing all possible safety devices in their products when the omission of those safety devices could result in the loss of life to the users of the products
Indicate whether the statement is true or false
Refer to Figure 10-5. Suppose the price of pizza increases while the price of hamburger remains constant. Then, the consumer's
A) indifference curve becomes straighter. B) budget constraint moves outward away from the origin on the pizza axis while the hamburger intercept remains the same. C) indifference curve becomes more concave away from the origin. D) budget constraint moves inward toward the origin on the pizza axis while the hamburger intercept remains the same.