If interest rates increase, the present value of a given payment in the future will

Which of the following is a distinction between perfectly competitive and monopolistic competition?

a. Perfectly competitive firms must compete with rival sellers; monopolistically competitive firms do not confront rival sellers. b. Monopolistically competitive firms can raise their price without losing sales; perfectly competitive firms must lower their price in order to sell more of their product. c. Perfectly competitive firms confront a perfectly elastic demand curve; monopolistically competitive firms face a downward-sloping demand curve. d. Perfectly competitive firms may make either economic profits or losses in the short run, but monopolistically competitive firms always earn an economic profit.

Suppose a player can play 2 possible actions and has 5 possible decision nodes in a sequential game. Then he has 10 possible strategies he can play.

Answer the following statement true (T) or false (F)