In monopolistic competition, each firm has a demand curve with a ________ and there ________ barriers to entry into the market

The United States can use all its resources to produce 250 DVDs or 500 shoes. China can use all of its resources to produce 30 DVDs or 300 shoes. The opportunity cost of producing a DVD in the United States is

A) 500 shoes. B) 1 DVD. C) 1/2 of a shoe. D) 20 shoes. E) 2 shoes.

In a monopolistically competitive market, the lower the firms' fixed costs,

A) the higher the deadweight loss. B) the less firms are active in equilibrium. C) the more firms are active in the equilibrium. D) the higher the prices charged.