Answer:
A.
Explanation:
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. ... Unlike perfect competition, the firm maintains spare capacity.
Answer: The answer is A national income plus government transfer payment
Explanation:
Explanation : Personal income is the income or amount of money earned by individuals or household over a given period of time. Personal income is calculated by adding to national income,the income received by households but not earned , and subtracting incomes earned but not received.
Income received by households but not earned including transfer payments, interest payments, while undistributed profits contribution for social insurance are included in income earned but not received. After all these additions and subtraction to and from national income, what is left that gets to the pockets of individuals and households is known as personal income.
Either it is that they can’t stop producing cigarettes or there would be riots and chaos or it is that the price of cigarettes goes up and down from time to time.
Answer:
The correct answer is option B.
Explanation:
In a perfect competition firms are price takers and have only normal profits. On the contrary, a monopoly firm are price makers and can have positive profits.
The consumer surplus gets reduced in monopoly and the producer surplus is greater. The profits in the monopoly firm shows the transfer of surplus of benefits from consumers to the producer.
So, option B is the correct answer.