Economic goods are defined as
A) tangible items only.
B) services only.
C) anything from which an individual derives satisfaction.
D) any item which is available in sufficient quantity at zero price.
C
Economics
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A student wrote: "Monopolistic competition is a market structure in which a small number of firms compete by making an identical product." If you were the instructor, how would you correct this statement?
What will be an ideal response?
Economics
Costly actions that a firm undertakes to gain monopoly status are called
a. monopolization. b. rent-seeking activity. c. monopoly-profit seeking. d. collusion.
Economics