Economists Believe That Consumers Would Be Better Off If Markets

question 257

True/False

Economists believe that consumers would be better off if markets were perfectly competitive rather than monopolistically competitive.

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Definitions:

Substitute

A second definition, phrased differently: An alternative product or service that consumers may opt for when the original is unavailable, too expensive, or of lower quality.

Important Resource

A critical asset or input used in the production of goods or services that significantly impacts an organization's or ecosystem's functionality.

Major Hurricane

A powerful tropical cyclone with high winds and heavy rains causing significant damage and impact on areas it encounters.