Globale Microeconomics

Business

Quiz 13 :

Oligopoly and Monopolistic Competition

Quiz 13 :

Oligopoly and Monopolistic Competition

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Regardless of market structure, all firms
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B

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Suppose that government used to requires airline companies to have at least 30 airplanes and serve at least 20 different airports. Now, this requirement changed to a minimum of 10 airplanes and 4 different airports. Such change in regulation will lead to
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A

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Explain how long-run economic profits are linked to entry in monopolistic competition and perfect competition.
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In the short run, all market structures allow for positive economic profits. However, those profits can only be maintained in the long run if other firms cannot enter the industry. If they can they will enter and competition will force the price of the good down until economic profits are zero.

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Which of the following market structures have market power?
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Perfect competition and monopolistic competition are similar in that firms in both types of market structure will
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In a sense, a cartel is self-destructive because
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Suppose that government requires airline companies to have at least 30 airplanes and serve at least 20 different airports. This is an example of
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A cartel is a group of firms that attempts to
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What is the aspect of imperfect competition that is most distinct from perfect competition?
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Which of the following market structures is (are)capable of earning positive economic profits in the long run?
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Monopolistic competition and monopoly have all of the following in common EXCEPT
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A competitive market structure differs from the monopoly, oligopoly, and monopolistic competition structures in the
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If a cartel is unable to monitor its members and punish those firms that violate the agreement, then
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In comparing monopolistic competition to perfect competition, one can conclude that the lack of free entry is the key to having the ability to set price.
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Perfect competition and monopolistic competition are similar in that both market structures include
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The Organization of Petroleum Exporting Countries (OPEC)is an example of a(n)
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Explain why a monopoly or a perfectly competitive firm does not consider a rival firm's behavior, but an oligopoly and a monopolistically competitive firm do.
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Monopolistic competition and perfect competition differ because
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Firms in all types of market structures pay attention to current rival firms' behavior.
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Oligopoly differs from monopolistic competition in that an oligopoly includes
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