Monopolistic Competition Is Similar to Perfect Competition in That

question 85

Multiple Choice

Monopolistic competition is similar to perfect competition in that

• A)firms in both types of market structures produce a standardized product.
• B)strategic behaviour is common to both market structures.
• C)neither has significant barriers to entry.
• D)each firm faces a horizontal demand curve.
• E)firms in both types of market structure engage in non-price competition.

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Definitions:

Systematic Desensitization

Therapy technique that involves exposing a client to increasingly anxiety-producing stimuli or situations while having the client relax at the same time.

Counterconditioning

A behavior therapy technique that involves pairing a stimulus that elicits an undesirable response with a new response that is incompatible with the undesirable response.

Counterconditioning

A behavioral therapy technique that involves pairing a stimulus that elicits an unwanted response with a new, desired response.

Systematic Desensitization

A behavioral therapy technique designed to gradually reduce fear, anxiety, or phobia by gradually exposing the person to the feared object or context in a controlled manner.