In Using Diagrams to Compare Monopolistic Competition to Perfect Competition

question 46

Multiple Choice

In using diagrams to compare monopolistic competition to perfect competition and monopoly we find the demand curve for the firm in monopolistic competition is__________ elastic than that for monopoly and __________elastic than that for the firm in perfect competition.

• A) less; less
• B) less; more
• C) more; more
• D) more; less

Recognize the limitations on the ability to delegate duties and assign rights.

Understand the implications of assignments that increase risk or burden.

Describe the rights of obligors and assignees after an assignment.

Distinguish between different types of third-party beneficiaries.

---

Definitions:

Dividends Paid

The portion of a company's earnings that is distributed to shareholders as a payment.

Strategic Planning

A process by which organizations define their strategy or direction and make decisions on allocating their resources to pursue this strategy.

Operational Planning

The process of planning short-term actions and resources towards achieving medium-term objectives and strategies.

Budgeting

The process of creating a plan to spend your money, outlining projected income and expenses over a period.