A major characteristic of monopolistic competition is that prices will be
A. higher than in perfect competition.
B. lower than in perfect competition.
C. higher than in a true monopoly.
D. unrelated to the type of competition.Weegy:
aAuto answered|Score .6|cash84366|Points 4502|User:
Why does a perfectly competitive market require many buyers and sellers?
A. because products must be uniform
B. so no individual can control the price
C. so buyers and sellers are both informed
D. to maintain quality over the goodsWeegy:
D. to maintain quality over the goodsAuto answered|Score 1|Alaked|Points 50|User:
Why does a government place price ceilings, such as rent control, on some “essential” goods?
A. to prevent the development of a black market
B. to encourage an increase in supply of necessary items
C. to limit the impact of equilibrium pricing
D. to help reduce demand for these goodsWeegy:
A. to prevent the development of a black marketAuto answered|Score 1|nisyel|Points 0|User:
Suppose the market for the magazine is in equilibrium. Some students insist on raising the cover price by $1 and printing the same quantity. What is likely to happen?
A. The demand for the magazine will go up.
B. There will be a shortage of 150 magazines.
C. There will be a surplus of 100 magazines.
D. The surplus will be greater than their sales.Weegy:
C. There will be a surplus of 100 magazines.Auto answered|Score 1|justpretty|Points 1167|User:
How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?
A. The price is higher.
B. The price is lower.
C. The prices cannot be compared.
D. The prices are the same.Weegy:
A. The price is higher.Auto answered|Score 1|akone|Points 140|User:
How do price changes drive markets toward equilibrium?
A. They set new price floors and ceilings.
B. They increase or decrease supply or demand.
C. They ensure that prices are fair.
D. They prevent inflation or deflation.Weegy:
It affects B the most.Auto answered|Score 1|jhehe|Points 385|User:
How might a firm respond to a higher demand for its goods?
A. limit its production
B. raise prices
C. cut prices
D. increase advertisingNote:
I'm sorry that that wasn't a good answer. Please hold on while I contact an expert.Weegy:
B. It raises prices.Expert answered|erikau14|Points 40|User:
Consider the centrally planned economy of the Soviet Union or China. Choose one and explain how its experience shows the problems with a centrally planned economy.
All Categories|No Subcategories|Expert answered|Rating 0| 7/30/2012 3:45:35 PM