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Teacher resources and professional development across the curriculum
Teacher professional development and classroom resources across the curriculum
To show that many markets are dominated by a small number of firms, and how these try to avoid price competition.
Monopolistic competition occurs where there are...
many sellers, and considerable product differentiation.NEXT QUESTION
Perhaps the most OBVIOUS difference between monopolistic competition and oligopolies is the...
Oligopolies can sell differentiated products (automobiles are an example), and though the amount of advertising each conducts may differ, consumers are not as likely to be aware of that as of the number of sellers involved. Monopolistic competition involves many sellers, oligopoly few.NEXT QUESTION
Perhaps the simplest definition of oligopoly is...
The second option is characteristic of oligopolies, but not the definition. The first and fourth options are completely incorrect.NEXT QUESTION
Research and development in the auto industry has been widely and severely criticized by economists MAINLY because...
there has been too much emphasis on style, and not enough on substantive improvements.NEXT QUESTION
In the years following the passage of the Sherman Antitrust Act, its supporters have come to regard it as...
well intentioned but overly general.NEXT QUESTION
According to the videotape presentation, airline deregulation has taught us which of the following important lessons?
Regulation often works more to the benefit of the industry than the consumer.RESTART QUIZ