What happens to a monopolistically competitive firm that begins to change an excessive price for its product?
a) The firm will go out of business
b) Consumers will substitue a rival's product
c) Consumers will boycott the product
d) The government will regulate the price
Ans: b) Consumers will substitue a rival's product
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Very low income families may feel despair or pessimism about their future and feel they have little control over their lives. This perspective is called:
a. Spiraling b. Fatalism c. Random disorder d. Depression
Which of the following statements best describes the changes in life expectancy between 1940-2000 in the US?
a. The life expectancy of females increased substantially but there was little change for males. b. The life expectancy of African American males is higher than that of African American females, but the life expectancy of white males is lower than that of white females. c. The life expectancies of people of all races has remained about the same as advances in health have been offset by declines due to environmental factors. d. The life expectancy of people with Down's Syndrome grew by about 25 times, and the life expectancy of African Americans grew faster than the life expectancy of whites.