For a monopolistically competitive firm, which of the following is ensured by product differentiation?
a. Long-run profit
b. Market power
c. Economies of scale
d. Increasing returns to scale
b
Economics
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According to the quantity equation, if M increases by 3 per cent and V increases by 2 per cent, then:
A. real income increases by approximately 5 per cent. B. the price level increases by approximately 5 per cent. C. the nominal interest rate increases by approximately 5 per cent. D. nominal income increases by approximately 5 per cent.
Economics
Special Drawing Rights are issued by the
a. International Monetary Fund. b. Bretton Woods Organization. c. General Agreement on Tariffs and Trade. d. World Bank.
Economics