Multiple Choice
Under monopolistic competition, there can be freedom of entry in the sense that there is freedom to produce
A) Close substitutes
B) Perfect substitutes
C) Complements
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Under monopolistic competition, super normal profit arise
Q15: When the perfectly competitive firm and industry
Q16: Shut-down point is a point where price
Q17: In the long-period,<br>A)All factors are fixed<br>B)Some factors
Q18: Which of the following condition are met
Q19: Break-even point is a point where price
Q20: Monopolistic competitive firm fixes the price of
Q21: Monopolistically competitive firms<br>A)Are small in size<br>B)Have small
Q23: Excess capacity is a hallmark of<br>A)Perfect competition<br>B)Monopoly<br>C)Oligopoly<br>D)Monopolistic
Q24: At the optimum short-run level of output,