The demand curve for the product of a monopolistic competitor is

A) downward sloping.
B) horizontal.
C) vertical.
D) unitary elastic.

A

Economics

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Which of the following curves reflects the situation in which a firm has complete flexibility in the choices of resources?

a. TFC b. SRATC c. LRATC d. AVC e. AFC

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The gasoline tax

a. is similar to most other taxes in that it causes deadweight losses. b. produces the unfortunate side-effect of making the roads more dangerous. c. can be viewed as a corrective tax aimed at multiple negative externalities associated with driving. d. can be viewed as a command-and-control policy aimed at discouraging people from driving.

Economics