The Only Difference Between Monopolistic Competition and Perfect Competition Is

question 129

Multiple Choice

The only difference between monopolistic competition and perfect competition is that a firm in monopolistic competition _____________ and a firm in perfect competition ____________.

• A) is in an industry with only a few other firms;is in an industry with many other firms
• B) sells a differentiated product;sells a homogeneous product
• C) sells a homogeneous product;sells a differentiated product
• D) cannot easily leave the industry;can easily leave the industry
• E) can easily leave the industry;cannot easily leave the industry

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Definitions:

Superior Colliculus

A structure in the midbrain that plays an important role in initiating and guiding eye movements as well as processing visual and auditory information.

Medulla

A section of the brainstem involved in autonomic functions, such as breathing and heart rate.

Cerebellum

A region of the brain that plays an important role in motor control and may also be involved in some cognitive functions such as attention and language.

Diathesis-Stress Model

Model that asserts that only when a diathesis or vulnerability interacts with a stress or trigger will a disorder emerge.