Which of the Following Are Important Differences Between Monopolistically Competitive

question 37

Multiple Choice

Which of the following are important differences between monopolistically competitive markets and monopoly markets?
(i) one market is efficient while the other entrails dead-weight losses
(ii) upward sloping marginal costs is only seen in one of the markets
(iii) long-run profits are possible in one but not the other

• A)(i) and (ii)
• B)(ii) and (iii)
• C)(i) only
• D)(iii) only

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Collateral

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Assets that lack physical form but have value, such as intellectual property or goodwill.

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