Which of the following is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York
b. Microsoft Corporation
c. Ford Motor Company
d. the campus bookstore
e. a public university
A
Economics
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A monopolistically competitive firm has ________ power to set the price of its product because ________
A) no; there are no barriers to entry B) some; there are barriers to entry C) no; of product differentiation D) some; of product differentiation
Economics
Price wars occur more often in monopolistic competition than in other market structures
a. True b. False
Economics