Monopolistic competition
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?- Created by: Jade
- Created on: 01-12-12 12:41
Other questions in this quiz
2. In both short run and long run - in terms of allocative efficiency...
- P<MC
- P>MC
- P=MC
3. Monopolistically competitive firms have _________ - this is because their products are differentiated.
- Some price making power
- Price making power
- Price taking power
4. Non-price competition is competition between firms on the basis, of, for example, branding, customer service, location, range of products, advertising are indicative of how firms seek to gain market share.
- True
- False
5. Given the product differentiation, it should be clear that firms in monopolistic competition compete through ?
- Non-price competition
- Price competition
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