Monopolistic competition is characterized by firms
A. producing differentiated products.
B. producing where price equals marginal cost.
C. making economic profits in the long run.
D. producing at optimal productive efficiency.
Answer: A
Economics
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Fill in the blank(s) with the appropriate word(s).
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Regarding central bank independence
A) the Fed is more independent than the European Central Bank. B) the European Central Bank is more independent than the Fed. C) the trend in industrialized nations has been to reduce central bank independence. D) the Bank of England has the longest tradition of independence of any central bank in the world.
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