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lurielbank lurielbank
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4 years ago

Question 1.

Unlike a monopolistically competitive firm's product, a monopolistic firm's product



▸ is homogeneous.

▸ has a vertical demand curve.

▸ has many close substitutes.

▸ has no close substitutes.

Question 2.

A profit-maximizing firm in a ________ market structure behaves much like a monopolistic firm in the short run.



▸ perfectly competitive

▸ monopolistically competitive

▸ Cournot duopoly

▸ All of these are correct.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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BobbyDBobbyD
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4 years ago
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lurielbank Author
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4 years ago
This calls for a celebration Person Raising Both Hands in Celebration
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