Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.
Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.
Answer:
D. Through the government purchases multiplier, the $1 increase in government spending will lead to an increase in aggregate demand and national income, which will lead to an increase in induced spending.
Explanation:
We know,
Multiplier = Changing real equilibrium GDP ÷Change of government spending.
If we increase the multiplier, government spending will lead to an increase in aggregate demand that is potential GDP is higher than actual GDP and national income, which will lead to an increase in induced spending. Therefore option D is the correct answer as options A, B, and C do not meet the requirements.
A, Sam wants to wear jeans to work because he finds dress pants uncomfortable.
Assuming this is in the United States, Lila would have the religious freedom to wear her headscarf. Jimmy's foot is injured, and therefore his foot needs special attention and care. Also, Jimmy will stop wearing sneakers to work after his foot recovers. In Felicia's proposal, all employees will be wearing casual clothes on Fridays, not just one specific person. Sam wants to wear jeans just because he finds them uncomfortable. He's not injured, protected by religious freedom, or affecting all the employees. It's just an exception for him. Therefore, the answer is A.
Answer:
- <u><em>functions that return a logical value:</em></u>
<u><em>AND </em></u>Returns TRUE if all of the arguments evaluate to TRUE. =AND(A2>=10, B2<5)
<u><em>OR </em></u>Returns TRUE if any argument evaluates to TRUE. =OR(A2>=10, B2<5)
<u><em>XOR </em></u>Returns a logical Exclusive Or of all arguments. =XOR(A2>=10, B2<5)
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2. <u><em>I and functions return a logical value?</em></u>
<u><em></em></u>
<u><em>TRUE</em></u>
The IF function can perform a logical test and return one value for a TRUE result, and another for a FALSE .
As explained above the AND function return a logical value
