Amonopolistically competitive industry combines elements of both competition and monopoly. it is correct to say that the competitive element results from:

a) a relatively large number of firms and the monopolistic element from product differentiation.
b) product differentiation and the monopolistic element from high entry barriers.
c) a perfectly elastic demand curve and the monopolistic element from low entry barriers.
d) a highly inelastic demand curve and the monopolistic element from advertising and product promotion.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Financial information that is capable of making a difference in a decision is

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance