“monopolistic competition is monopolistic up to the point at which consumers become willing to buy close-substitute products and competitive beyond that point.” this statement recognizes that products of monopolistically competitive firms
a) are usually preferred by consumers, giving them monopoly power; however, consumers will seek substitutes if the price is too high, making them competitive. b) may be preferred by consumers, giving them monopoly power; however, consumers will seek substitutes if the price is too high, making them competitive. c) may or may not be viewed as different from the product of a monopoly. d) have to be limited in supply for the firm to experience monopoly power.

The correct answer is option B.

Explanation:

Monopolistic competition is that form of market where there are a number of sellers who are producing close substitutes. There is high degree of competition in the market and firms adopt advertising to promote their products.

In a monopolistic market the firms may enjoy monopoly powers, if the consumers prefer their product. But if the price is too high, the rational consumers will prefer close substitutes.

answer with step-by-step explanation:

a. wx is perpendicular to xy - true:

(since x is adjacent to x and y and all angles are 90 degrees in a square, therefore wx is perpendicular to xy)

b. ∠w is congruent to ∠x - true:

(all angles in a square are equal to each other)

c. ∠w is supplementary to ∠x - true:

(∠w and ∠x both are right angles which add up to 180 degrees so they are supplementary angles)

d. wxyz is a rhombus - true:

(a rhombus has all sides equal in length and so has a square so it is a rhombus)

e. wxyz is a trapezoid - false:

(a trapezoid has only one pair of parallel sides while a square has two pairs of parallel sides)

f. wx is parallel to yz - true:

(wx and yz are parallel to each other)