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Economics

1. A(n) ____ may offer products that are either differentiated or nondifferentiated.

a. monopolistically competitive firm

b. price taker

c. oligopolistic firm

d. perfectly competitive firm

e. monopoly

2. What is the difference in profit maximization between the perfect competitor and all other types of firms?

a. There is no difference.

b. The difference is that for the perfectly competitive firm, marginal revenue, demand, and price are identical.

c. The difference is that for the monopolist firm, marginal revenue, demand, and price are identical.

d. The difference is that for the monopolistically competitive firm, marginal revenue, demand, and price are identical.

e. The difference is that for the oligopolistic firm, marginal revenue, demand, and price are identical.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91299098

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