Monopolistically competitive firms have an incentive to:
A) create products that are easily substituted for the competition's products.
B) create products that have a unique feature that makes it difficult to substitute.
C) create products that are exactly like the competitor's products.
D) None of these statements is true.
Correct Answer:
Verified
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Q94: Advertising:
A) is valuable because it provides free
Q95: Innovation creates the opportunity to:
A) quickly exit
Q96: Monopolistically competitive firms have an incentive to:
A)
Q97: Economists usually believe that:
A) competition encourages innovation.
B)
Q98: If government were to regulate a monopolistically
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