Using the annuity rule, an annuity that pays $10 annually has a present value of $200 if the market interest rate is:

Successful product differentiation by a monopolistically competitive firm makes the demand curve, faced by the firm, steeper

a. True b. False Indicate whether the statement is true or false

Honey producers provide a positive externality to orchards because

a. the honey producers get more honey. b. the orchard owner frequently gets stung by the honey producer's bees. c. the orchard owner does not have to purchase bees to pollinate his flowers. d. the honey producers have to rent access to the orchard grounds.