Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please solve all parts

Transcribed Image Text:A gas station is an example of:
b
Oc
Od oligopoly
Question 13
The most recognizable form of non-price competition is?
a
b
Oc
Od
a
b
monopolistic competition
monopoly
perfect competition
Question 14
Coca-cola is an example of,
Od
a
Ob
Low prices
Better customer service
More locations
C
d
Advertising
Question 15
The demand curve for a monopolistically competitive firm is downward sloping because
monopolistic competition
monopoly
perfect competition
oligopoly
there are a large number of firms
it is easy for firms to enter or exit the market
the products produced by different firms are not identical
the marginal cost rises as output produced increases
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