STUDYLIB DOCUMENTS FLASHCARDS CHROME EXTENSION TA session 7 Ch14.tst ≡ Add to ... Download ADVERTISEMENT ADVERTISEMENT ECON101 STUDY GUIDE 7 CHAPTER 14 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) An oligopoly firm is similar to a monopolistically competitive firm in that A) both firms have market power. B) both firms face the prisoner's dilemma. C) both operate in a market in which there are entry barriers. D) both firms are in industries characterized by an interdependent firm. 2) An oligopolist differs from a perfect competitor in that A) there is cutthroat competition in perfect competition but little competition in oligopoly because firms have significant market power. B) the market demand curve for a perfectly competitive industry is perfectly elastic but it is downward- sloping in an oligopolistic industry. C) there are no entry barriers in perfect competition but there are entry barriers in oligopoly. D) firms in an oligopoly do not produce homogeneous products while firms in perfect competition do. 3) Producing a homogeneous product occurs in which of the following industries? A) oligopoly, monopolistic competition and perfect competition B) oligopoly and perfect competition C) monopolistic competition and perfect competition D) perfect competition only 4) Producing a differentiated product occurs in which of the following industries? A) oligopoly, monopolistic competition and perfect competition Page: 1 of 5 Automatic Zoom ADVERTISEMENT Is the category for this document correct? × Business / Economics / Microeconomics / Game Theory No more boring flashcards learning! Learn languages, math, history, economics, chemistry and more with free Studylib Extension! ■ Distribute all flashcards reviewing into small sessions ■ Get inspired with a daily photo ■ Import sets from Anki, Quizlet, etc ■ Add Active Recall to your learning and get higher grades! Add to Chrome It's free Related documents 3. Suppose 2 firms… Chapter 7: Vocabulary… Homework Quiz 11 Chapter 7 – Market… Products Support Make a suggestion Documents Report Flashcards Partners Did you find mistakes in interface or texts? Or do you know how to improveStudyLib UI? Feel free to send suggestions. Its very important for us! Extension Examplum - Context Dictionary © 2013-2020 studylib.net all other trademarks and copyrights are the property of their respective owners DMCA Terms Privacy Add feedback
