a. True/ False: A monopolistic competitive firm is a price taker, while an oligopolist is a price searcher.

b. True/False: In the prisoner's dilemma, each prisoner would be better off if neither one confesses.

c. True/False: The profit-maximizing monopolistic competitive firm produces a level of output at which marginal revenue equals marginal cost.

d. The monopolistic competitive firm faces a(n) __________ demand curve.

Group of answer choices

downward-sloping

horizontal

vertical

upward-sloping

e. A cartel is an organization of firms

Group of answer choices

that reduces output and increases price in an effort to increase joint profits.

dominated by one firm, which is usually referred to as the price leader.

that attempts to increase total (or industry) demand for their product.

that deliberately attempts to disrupt the market for political reasons.