Monopolistic competition differs from perfect competition primarily because in
A. monopolistic competition, there are relatively few barriers to entry.
B. perfect competition, firms can differentiate their products.
C. monopolistic competition, entry into the industry is blocked.
D. monopolistic competition, firms can differentiate their products.
Answer: D
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Suppose that the table shown shows the demand and supply schedules for pork bellies. There is a shortage of 15,000 pounds at a price of:Price($/lb.)Quantity demanded (lbs.)Quantity Supplied (lbs.)$0.1030,0005,000$0.2025,00010,000$0.5020,00020,000$0.7515,00030,000$0.955,00040,000
A. $0.50. B. $0.95. C. $0.75. D. $0.25.
Looking at the U.S. balance of payments for the last two decades, how have the current account and the capital and financial account changed?
What will be an ideal response?