Monopolistically competitive and purely competitive industries are similar in that:
A. both are assured of short-run economic profits.
B. both produce differentiated products.
C. the demand curves facing individual firms are perfectly elastic in both industries.
D. there are few, if any, barriers to entry.
Answer: D
Economics
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The chairman of its Board of Governors is appointed by the president; the Fed operates without independence from the executive branch of the government
a. True b. False Indicate whether the statement is true or false
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