Refer to Figure 10.2. In moving from the competitive level of output and price to the monopoly level of output and price, the monopolist is able to add to producer surplus:

In a dynamic economy, there will always be some frictional unemployment

Indicate whether the statement is true or false

In the short run, product differentiation enables firms in monopolistically competitive markets to:

A. act like perfectly competitive firms. B. sell a standardized good. C. collude with competing firms to set prices. D. act like a monopolist.