Special economic zones in China have been
A) the same as export processing zones.
B) centers of economic reform.
C) controlled by state run enterprises.
D) closed to foreigners.
E) poor regions that are targeted for industrial development.
B
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A monopolistically competitive firm chooses its
a. price and quantity just as a monopoly does. b. quantity but faces a horizontal demand curve just as a competitive firm does. c. price but can sell any quantity at the market price just as an oligopoly does. d. price and quantity based on the decisions of the other firms in the industry just as an oligopoly does.
Refer to the graphs below of D and MR for a monopolist. Which of the following statements is true?
A. A price cut from P1 to P2 would lead to a decrease in consumer spending on the product
B. A price cut from P1 to P2 would lead to an increase in consumer spending on the product
C. A price cut from P2 to P3 would lead to no change in consumer spending on the product
D. A price cut from P2 to P3 would lead to an increase in consumer spending on the product