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. |