The relative prices of wool, cocoa, aluminum, rice, cotton, and sugar declined by more than half during the 20th century.

In monopolistic competition, a firm can set the price for its product because of

A) easy entry and exit. B) economic profits. C) product differentiation. D) many competitors. E) the firm's upward sloping demand curve.

Many fast-food restaurants have begun offering value meals with fruit or salad instead of French fries. If consumers find this idea attractive, the market demand for potatoes will most likely:

A. increase, which may result in short-run losses for potato growers. B. decrease but have no effect on the profits earned by potato growers in the short run. C. increase but have no effect on the profits earned by potato growers in the short run. D. decrease, which may result in short-run losses for potato growers.