Monopolistic Competition Might Be Efficient If

question 11

Multiple Choice

Monopolistic competition might be efficient if

• A)firms invested in technology that decreased the marginal cost of production.
• B)more firms entered the industry.
• C)firms left the industry.
• D)the loss that arises because the quantity produced is less than the efficient quantity is offset by the gain that arises from having a greater degree of product variety.
• E)firms made more use of brand names.

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The shared beliefs, norms, and standards of behavior that reflect the collective preferences and priorities of a society.

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Model statutes drafted to provide consistency in law among states on various subjects, promoting uniformity and simplification.