Multiple Choice
A firm under monopolistic competition advertise because
A) To compete successfully with rival
B) To lower cost of production
C) To increase revenue and sales
D) Since it cannot raise price
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Under monopolistic competition, an increase in the
Q3: The importance of time element in price
Q4: If price is less than average cost,
Q5: In the long run, a competitive firm
Q6: Selling cost assumes paramount importance in<br>A)Perfect competition<br>B)Monopoly<br>C)Monopolistic
Q8: In the short-period,<br>A)All factors are fixed<br>B)Some factors
Q9: If price is greater than average cost,
Q10: In the case of monopolistic competition,<br>A)Short run
Q11: Increase or decrease in the level of
Q12: The term group equilibrium is referred to<br>A)Duopoly<br>B)Monopolistic