Monopolistically competitive firms have a:
A. perfectly elastic demand curve.
B. downward-sloping demand curve.
C. horizontal demand curve.
D. perfectly inelastic demand curve.
Answer: B
Economics
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Real GDP is most commonly used to monitor short-run changes in
a) economic activity. b) the rate at which a person can trade the currency of one country for the currency of another. c) the income distribution over time. d) the price index from the preceding period.
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An example of a market where a Bertrand model would be NOT be plausible is the market for
A) pizza. B) sweaters. C) motorcycles. D) toothpicks.
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