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Question 14 monopolistic competition is a market

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Question 14Monopolistic competition is a market situation in whichseveral identical products are available.
Question 15Joe would like to start his own lawn maintenance business but is not quite surewhere to begin or what to do to start a business. He has come to you for advice.What would you recommend for him to do?
Question 16The United States, whose economy exhibits elements of both capitalism andsocialism, has what is known as a(n) ____ economy.
centralizedutilitarianplannedQuestion 17When a firm's sales revenues are greater than its expenses, the firm has a:positive cash flow.factor of production.financial resource.loss.profit.
Question 18If the demand for a product declines, what happens to the price of the product?
The price decreases.The equilibrium price will be maintained.Question 19A price at which the demanded quantity is equal to the produced quantity of thatproduct is called the ____ price.
Question 20A person who risks his or her time, effort, and money to start and operate a businessis called a(n)
entrepreneur
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