1. Why do monopolistically competitive firms have? downward-sloping demand? curves? A.Monopol…

1. Why do monopolistically competitive firms have?
downward-sloping demand? curves?

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A.Monopolistically competitive firms sell differentiated
productssell differentiated products.

B.Barriers to entering monopolistically competitive markets are
low.

C.Monopolistically competitive firms face competition from only
a few other sellers.

D.Monopolistically competitive markets have many buyers with
identical preferencesmany buyers with identical preferences.

E.Both a and b.

2. The federal government has passed various laws addressing
mergers.

What did the Clayton ActClayton Act ?do?

The Clayton ActClayton Act

A. prohibited restraint of trade comma including price fixing
and collusionprohibited restraint of trade, including price fixing
and collusion.

B.prohibited any merger that would reduce competitionprohibited
any merger that would reduce competition.

C.prohibited charging buyers different prices if the result
would reduce competitionprohibited charging buyers different prices
if the result would reduce competition.

D.established the Federal Trade Commissionestablished the
Federal Trade Commission.

E.prohibited firms from buying stock in competitorsprohibited
firms from buying stock in competitors.