1) monopolies and monopolistically competitive firms differ in that monopolies:
a) participate in markets where barriers to entry are present

b) different their products

c) face competition form many other firms

2) firms in monopolistic which makes monopolistic competition different than perfect competition.

a) face competition from many other firms

b) differentiate their products

c) partitcipate in markets where barriers to entry are present

3) in comparison to oligopolies, firms in monopolistic

a) differentiate their products

b) participate in markets where barriers to entry are present

c) face competition from many other firms

4) which off the following scenarios is an example of an industry in monopolistic competiton?

a) farmers growing navel organges throughout the united states

b) within walking distance from your home, there are a plethora of fast-food restaurants including koala express, cabo bob's burritos, oodles of noodles, and hanz's hearty hamburgers

c) sprint, att& t, verizon, and t-mobile own a larg portion of the u. s. cellular market share

d) the local gas company owns all of the gas lines that supply natural gas and heating to the residents in the town of madison, wisconsin.

Mr. smith recently faced a choice between being (a) an economics profes-sor, which pays $60,000/yr, or (b) a safari leader, which pays $50,000/yr. after careful deliberation, smith took the safari job, but it was a close call. "for a dollar more," he said, "i'd have gone the other way."now smith's brother-in-law approaches him with a business proposition. the terms are as follows: - smith must resign his safari job to work full-time in his brother-in-law's business.- smith must give his brother-in-law an interest-free loan of $100,000, which will be repaid in full if and when smith leaves the business. (smith currently has much more than $100,000 in the the business will pay smith a salary of $70,000/yr. he will receive no other payment from the business. the interest rate is 10 percent per year. apart from salary considerations, smith feels that working in the business would be just as enjoyable as being an economics professor. for simplicity, assume there is no uncertainty regarding either smith's salary in the proposed business or the security of his monetary investment in it. should smith join his brother-in-law and, if so, how small would smith's salary from the business have to be to make it not worthwhile for him to join? if not, how large would smith's salary from the business have to be to make it worthwhile for him to join?

Amajor advantage of case studies is

Which one of the following statements is true? ddt does not prevent disease from passing from agricultural animals to humans. cost was a major factor in the united states government's decision to ban ddt. many african governments concluded that the potential long-term health effects of ddt were not as serious as the immediate problem of insect control. ddt cannot accumulate in the fat of animals. the ddt ban in the united states has made it very difficult to control agricultural insect pests.