What is the correct answer?


Competitors in monopolistic competition have full control over:

A. The price of their product

B. Product quality

C. The shape of the market demand curve

D. The elasticity of product substitution

Correct Answer :

B. Product quality

Related Questions

If, at the prevailing price, more of a good is desired than is available… The behavior of MC curve is determined by the behavior of the: Two policy variables, product and selling activities in the theory of… The imaginary differentiation is attributed to difference in: The total utility (TU) curve is: Who is the founder of classical school of thought? Demand of a commodity is elastic when: In price leadership, like leader, the follower firm may: Which of the following has more elastic demand curve? Marshalls definition of economics was strongly criticised by: When elasticity of demand is greater than one (e >1), then following the… J.R.Hicks was: The number of sellers in oligopoly are: Which industries spend a relatively large share of their revenue on research… In monopolistic competition, the real differentiation in products is due… Change in demand (rise and fall of demand) is: In Prisoners Dillemma, the players are: The proportional demand curve in monopolistic competition (also in kinked… When total product (TP) is maximum: With which of the following concepts is the name of J.M.Keynes particularly… The arc elasticity is the measure of average elasticity at the mid-point… Technological Progress (Invention) can be defined as: Ordinal approach includes arranging: Which of the following is not a feature of isoproduct curves? Production function relates: When total revenues equal to total opportunity cost then the firm will… Under monopoly and imperfect competition MC is: The market demand for any commodity is the: If two goods are complements then indifference curve (IC) will be: The entry of new firms in cournot model is: