All of the following are assumptions of monopolistic competition EXCEPT
A) many buyers and sellers.
B) homogeneous product.
C) easy entry of new firms in the long run.
D) profit-maximizing behavior.
B
Economics
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As an individual's consumption of a good increases
A) his or her total utility increases. B) his or her marginal utility increases. C) the price of the good increases. D) All of the above answers are correct.
Economics
If consumption in the United States was 68 percent of GDP, investment was 19 percent, government purchases were 13 percent, exports were 14 percent, and imports were 14 percent, net exports were equal to ____ percent of GDP
a. -1 b. 0 c. -28 d. 28
Economics