Chapter9 Monopolistic Competition经济学英语题库.docVIP

PAGE PAGE 1 Chapter 9 Monopolistic Competition Multiple Choice 1. Because monopolistically competitive firms produce differentiated products, each firm (d) faces a demand curve that is horizontal. faces a demand curve that is vertical. has no control over product price. has some control over product price. 2. Which of the following conditions distinguishes monopolistic competition from perfect competition? (d) a. Number of sellers. b. Freedom of entry and exit. c. Small size firms. d. Differentiation of product. 3. If existing fast-food firms realize sizable economic profits