Looking for Quiz 13 :
Oligopoly and Monopolistic Competition
Question Type
All
Choose question tag
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
Free
Multiple Choice
Answer:
Answer:
A
Choose question tag
Explain how long-run economic profits are linked to entry in monopolistic competition and perfect competition.
Free
Essay
Answer:
Answer:
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.
Choose question tag
Choose question tag
Perfect competition and monopolistic competition are similar in that firms in both types of market structure will
Multiple Choice
Answer:
Choose question tag
Choose question tag
Suppose that government requires airline companies to have at least 30 airplanes and serve at least 20 different airports. This is an example of
Multiple Choice
Answer:
Choose question tag
Choose question tag
What is the aspect of imperfect competition that is most distinct from perfect competition?
Multiple Choice
Answer:
Choose question tag
Which of the following market structures is (are)capable of earning positive economic profits in the long run?
Multiple Choice
Answer:
Choose question tag
Monopolistic competition and monopoly have all of the following in common EXCEPT
Multiple Choice
Answer:
Choose question tag
A competitive market structure differs from the monopoly, oligopoly, and monopolistic competition structures in the
Multiple Choice
Answer:
Choose question tag
If a cartel is unable to monitor its members and punish those firms that violate the agreement, then
Multiple Choice
Answer:
Choose question tag
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.
True False
Answer:
Choose question tag
Perfect competition and monopolistic competition are similar in that both market structures include
Multiple Choice
Answer:
Choose question tag
The Organization of Petroleum Exporting Countries (OPEC)is an example of a(n)
Multiple Choice
Answer:
Choose question tag
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.
Essay
Answer:
Choose question tag
Choose question tag
Firms in all types of market structures pay attention to current rival firms' behavior.
True False
Answer:
Choose question tag
Oligopoly differs from monopolistic competition in that an oligopoly includes
Multiple Choice
Answer:
Choose question tag
Contact Us
© 2020-2022 Quizplus LLC. All Rights Reserved