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
Q12: A monopolistically competitive market is distinguished from
Q13: Excess capacity is a hallmark of
A)Perfect competition
B)Monopoly
C)Oligopoly
D)Monopolistic
Q14: Monopolistically competitive firms
A)Are small in size
B)Have small
Q15: Selling cost assumes paramount importance in
A)Perfect competition
B)Monopoly
C)Monopolistic
Q16: Under monopolistic competition, there can be freedom
Q18: In the case of monopolistic competition,
A)Short run
Q19: Under monopolistic competition, super normal profit arise
Q20: Which of the following condition are met
Q21: The term group equilibrium is referred to
A)Duopoly
B)Monopolistic
Q22: Increase or decrease in the level of
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