Multiple Choice
The main difference between perfect competition and monopolistic competition is
A) there are more firms in perfect competition.
B) perfect competition has freedom of entry and exit.
C) monopolistic competition has product differentiation.
D) firms earn profits in the long run in monopolistic competition.
E) monopolistic competition has lower costs.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Suppose there are many independent dry cleaners
Q9: Which of the following industries in Canada
Q10: "Brand proliferation" is an example of<br>A)an economy
Q11: The diagram below shows selected cost and
Q12: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 11-2 -Refer
Q14: Compared with perfect competition,monopolistic competition results in<br>A)a
Q15: Consider the following characteristics of a particular
Q16: The following statements describe a cooperative equilibrium
Q17: When a monopolistically competitive industry is in
Q18: Advertising by existing firms in an oligopolistic