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The products, under monopolistic competition are differentiated, yet they are:

A. Complements

B. Close substitutes

C. Both a and b

D. None of the above

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  1. Microeconomics is also known as:
  2. The cobweb model will convergent when the slope of:
  3. The short-run periods in monopolistic competition are:
  4. The marshallian demand curve includes:
  5. The production function of homogeneous of degree one (n=1) is also called:
  6. The number of sellers in duopoly is:
  7. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  8. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  9. Economic problems arise because:
  10. The act of producing the output from more than one plant is concerned with:
  11. An income demand curve of an inferior good is:
  12. Supply of a commodity refers to:
  13. Quantity demanded or supplied is measured in:
  14. Extension (expansion) of demand means:
  15. A demand curve which is horizontal and parallel to x-axis represents:
  16. In the case of superior (normal) commodity, the income elasticity of demand is:
  17. In joint-profit maximization cartel, central agency sets the:
  18. Supply curves are most elastic:
  19. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  20. When the level of optimal factor combination is over and more labor is employed with the fixed plant,…
  21. According to Chamberline, in monopolistic competition, differentiation is determined by:
  22. The Input-Output Analysis was originated by:
  23. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  24. Which is not a central problem of an economy?
  25. In price leadership, like leader, the follower firm may:
  26. In cournot model, firms sell:
  27. If two goods have same marginal utility for a consumer then:
  28. In finding equilibrium position of a profitmaximizing firm, which technique is most convenient?
  29. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  30. If the production function is homogeneous, the expansion path will be a straight line through the origin…