With Respect to Monopolistic Competition

question 453

Multiple Choice

With respect to monopolistic competition,

• A)both the business-stealing externality and the product-variety externality are positive externalities.
• B)the business-stealing externality is a positive externality, while the product-variety externality is a negative externality.
• C)the business-stealing externality is a negative externality, while the product-variety externality is a positive externality.
• D)both the business-stealing externality and the product-variety externality are negative externalities.

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Definitions:

Self-efficacy

Our feeling of adequacy, efficiency, and competence in coping with life.

Parenting Skills

A set of competencies and strategies that parents employ to effectively raise, nurture, and guide their children.

Adulthood

A mature stage of life after adolescence, characterized by fully developed physical, mental, and emotional capabilities, and usually marked by responsibilities such as a career and family.

Self-efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.