Evaluation Applied Economic CO

Froggy Jumps

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Applied eco post-test market structure

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Josh Borbs

Philippines

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Evaluation Applied Economic CO


Froggy Jumps Evaluation Applied Economic COVersion en ligne Applied eco post-test market structure par Josh Borbs 1 What is the difference between perfect competition and monopolistic competition? a Perfect competition has barriers to entry while monopolistic competition does not. b Perfect competition has no barriers to entry, while monopolistic competition does. c perfect competition, identical goods, monopolistic competition, produce slightly different goods 2 The market type known as perfect competition is __________? a Dominated by fierce advertising campaigns. b Almost free from competition and firms earn large profits. c Highly competitive and firms find it impossible to earn an economic profit in the long run. 3 Which of the following market types has all firms selling products so identical that buyers do not care from which firm they buy? a Perfect competition b Monopoly c Monopolistic competition 4 Perfect competition is characterized by all of the following EXCEPT a Large number of buyers and sellers. b Considerable advertising by individual firms. c No restrictions on entry into or exit from the industry. 5 Which of the following is the best example of a perfectly competitive market? a Athletic shoes b Diamonds c Farming 6 Which of the following market types has the fewest number of firms? a Monopoly b Oligopoly c Monopolistic competition 7 Which of the following market types has a large number of firms that sell similar but slightly different products? a Monopolistic competition b Monopoly c Oligopoly 8 Which of the following market types has only a few competing firms? a Monopoly b Oligopoly c Monopolistic competition 9 . In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision? a The profit-maximizing level of output b Whether or not to enter or exit an industry c What price to charge buyers for the product 10 In perfect competition, a firm maximizes profit in the short run by deciding a What price to charge. b How much capital to use. c How much output to produce. 11 In monopolistic competition, each firm supplies a small part of the market. This occurs because______. a There are barriers to entry. b There are no barriers to entry. c There are a large number of firms. 12 In monopolistic competition, the products of different sellers are assumed to be a Identical perfect substitutes. b Similar but slightly different. c Either identical or differentiated. 13 Which of the following is different about perfect competition and monopolistic competition? a In monopolistic competition, entry into the industry is unblocked. b Perfect competition has a large number of independently acting sellers. c Monopolistic competition compete on their product's price as well as its quality and marketing. 14 In an industry with a large number of firms, a Collusion is impossible. b Competition is eliminated. c One firm will dominate the market. 15 Which of the following is an example of a monopolistically competitive industry? a wheat farming b colleges and universities c the local electricity producer

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Evaluation Applied Economic CO

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Evaluation Applied Economic COVersion en ligne

par Josh Borbs

What is the difference between perfect competition and monopolistic competition?

The market type known as perfect competition is __________?

Which of the following market types has all firms selling products so identical that buyers do not care from which firm they buy?

Perfect competition is characterized by all of the following EXCEPT

Which of the following is the best example of a perfectly competitive market?

Which of the following market types has the fewest number of firms?

Which of the following market types has a large number of firms that sell similar but slightly different products?

Which of the following market types has only a few competing firms?

. In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision?

In perfect competition, a firm maximizes profit in the short run by deciding

In monopolistic competition, each firm supplies a small part of the market. This occurs because______.

In monopolistic competition, the products of different sellers are assumed to be

Which of the following is different about perfect competition and monopolistic competition?

In an industry with a large number of firms,

Which of the following is an example of a monopolistically competitive industry?