Monopolistic competition is similar to perfect competition in that:
A. firms advertise in both cases.
B. both entail the production of differentiated products.
C. output is at minimum average total cost in both.
D. long-run profits tend toward zero in both.
Answer: D
Economics
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If the demand for labor decreases and the supply of labor is unchanged, then the opportunity cost of leisure will decrease
a. True b. False Indicate whether the statement is true or false
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