An indifference curve is always
| A. | Concave to the origin |
| B. | Convex to the origin |
| C. | A vertical straight line |
| D. | A horizontal straight line |
|
Option: B Explanation : Click on Discuss to view users comments. |
Monopolistic competition constitutes
| A. | Single firm producing close substitutes |
| B. | Many firms producing close substitutes |
| C. |
Many firms producing differentiated product
|
| D. | None of these |
|
Option: C Explanation : Click on Discuss to view users comments. |
In the case of monopolistic competition
| A. |
The long-run supply curve can be defined
|
| B. |
The long-run supply curve can't be defined
|
| C. |
The short-run supply curve can't be defined
|
| D. |
The short-run supply curve can be defined
|
|
Option: C Explanation : Click on Discuss to view users comments. |
