The monopolistic competition model assumes that:
A. allocative efficiency will be achieved.
B. productive efficiency will be achieved.
C. firms will engage in nonprice competition.
D. firms will realize economic profits in the long run.
Answer: C
Economics
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The Federal Reserve's narrowest definition of the money supply is
A) M0. B) M1. C) M2. D) M3.
Economics
The quantity of Blu-Ray players purchased declined in spite of a decline in price. This implies that the
a. supply curve for Blu-Ray players shifted to the left. b. demand curve for Blu-Ray players shifted to the right. c. demand curve for Blu-Ray players shifted to the left. d. supply curve for Blu-Ray players shifted to the right.
Economics