In monopolistic competition, a firm has some ability to affect the price for its product because of
A) easy entry and exit.
B) economic profits.
C) product differentiation.
D) many competitors.
C
Economics
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A vertical Phillips Curve is consistent with
A) a constant price level. B) constant velocity. C) an upward sloping aggregate supply curve. D) a vertical aggregate supply curve.
Economics
All of the following would cause the production possibilities curve to shift outward EXCEPT
A) an improvement in technology. B) an increase in the amount of labor available. C) a decline in the unemployment rate. D) an increase in the level of capital stock.
Economics