Which of the following is not a characteristic of a monopolistically competitive industry?
A) easy entry and exit
B) similar but differentiated products
C) positive or negative long-run economic profits
D) small share of total industry output by any individual firm
Correct Answer:
Verified
Q1: Long-run average cost is defined as the
Q3: The establishment of a foreign subsidiary of
Q4: Which of the following is not an
Q5: Agglomeration refers to:
A) a consumer-s choice to
Q6: External economies refer to:
A) cost advantages arising
Q7: In principle, a tendency for firms to
Q8: An industry concentration ratio is the:
A) sum
Q9: The relevant market is:
A) defined by the
Q10: A set of laws aimed at promoting
Q11: "Gravity" models of international trade emphasize the
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