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RoseWind [281]
3 years ago
7

“Monopolistic competition is monopolistic up to the point at which consumers become willing to buy close-substitute products and

competitive beyond that point.” This statement recognizes that products of monopolistically competitive firms
A) are usually preferred by consumers, giving them monopoly power; however, consumers will seek substitutes if the price is too high, making them competitive.B) may be preferred by consumers, giving them monopoly power; however, consumers will seek substitutes if the price is too high, making them competitive.C) may or may not be viewed as different from the product of a monopoly.D) have to be limited in supply for the firm to experience monopoly power.
Business
1 answer:
anyanavicka [17]3 years ago
8 0

Answer:

The correct answer is option B.

Explanation:

Monopolistic competition is that form of market where there are a number of sellers who are producing close substitutes. There is high degree of competition in the market and firms adopt advertising to promote their products.

In a monopolistic market the firms may enjoy monopoly powers, if the consumers prefer their product. But if the price is too high, the rational consumers will prefer close substitutes.

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3 0
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Ethical conduct in the procurement process is particularly important to ensure fair and competitive in-theater acquisition effor
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Answer:

True

Explanation:

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7 0
3 years ago
Maria spots a beautiful dress in the window of a boutique. Maria goes into
Yakvenalex [24]

Answer:

Asking Price

Explanation:

8 0
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B. Lopez Company reports unadjusted first-year merchandise sales of 221,000 and cost of merchandise sales of $64,000. The compan
Annette [7]

Answer: See explanation

Explanation:

The year-end adjusting entry to record the cost side of sales returns and allowances will be:

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3 years ago
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