In Monopolistically Competitive Industries

question 80

Multiple Choice

In monopolistically competitive industries,

• A)firms compete on quality,price and marketing.
• B)the range of choice of products is the same as in perfectly competitive industries.
• C)firms are insensitive to changes in consumer demand.
• D)all firms produce a quantity at which marginal cost is greater than marginal benefit.
• E)all firms make an economic profit.

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Definitions:

Neurons

Nervous system cells that communicate by sending electrical and chemical signals.

Esophagus

The muscular tube that transports food and liquids from the mouth to the stomach, playing a key role in the digestive system.

ENS

The Enteric Nervous System (ENS) is a network of neurons lining the gastrointestinal tract, controlling digestion and gut function independently of the central nervous system.

Neuron Types

are various kinds of nerve cells classified based on their function, structure, neurotransmitter released, and direction of signal sent; including sensory, motor, and interneurons.