Monopolistically competitive firms ignore the effect of their decisions upon other firms in the industry because
a. each firm is large relative to the market
b. each firm is small relative to the market
c. there are few sellers in the market
d. there is only one seller in the market
e. all firms follow the same known pricing rules
B
Economics
You might also like to view...
Though Treasury bonds may have little default risk, what type of risk exists when current interest rates are low?
A) price risk B) refinancing risk C) interest-rate risk D) present value risk
Economics
What is potential GDP? What happens to unemployment when GDP is at its potential?
What will be an ideal response?
Economics