In both monopolistic competition and perfect competition,
A) firms sell identical products.
B) there is easy entry and exit.
C) firms are price takers.
D) firms face horizontal demand curves.
E) the marginal revenue curve and the demand curve are the same.
B
You might also like to view...
Refer to Figure 17-9. A(n) ________ would be depicted as a movement from A to D to C
A) increase in short-run aggregate supply B) supply shock, such as rising oil prices, C) implementation of contractionary monetary policy D) increase in aggregate demand
The unemployment rate that is typically reported in the media is ________
A) based on a survey from 150,000 business establishments on weekly earnings, number of workers and hours worked B) computed every three months C) based on a survey of 60,000 households D) reported by the Treasury Department E) none of the above