答案和详解如下： Q1. Under which type of market structure are the production and pricing alternatives of a firm most affected by the decisions of its competitors? A) Oligopoly. B) Monopolistic competition. C) Perfect competition. Correct answer is A) An oligopoly market structure is characterized by a small number of firms producing similar or differentiated products, with a high degree of interdependence among competitors. Each firm’s optimal price and output are strongly affected by the pricing and output decisions of its competitors. Q2. Product differentiation is the greatest source of market power for which of the following market structures? A) Perfect competition. B) Oligopoly. C) Monopolistic competition. Correct answer is C) Product differentiation gives market power to firms under monopolistic competition by making the firm the sole producer of a slightly differentiated good. Q3. An economic market characterized by a large number of independent firms all producing identical products is best described as: A) monopolistic competition. B) perfect competition. C) monopoly. Correct answer is B) In a perfectly competitive economic market, there are many independent firms, each seller is small relative to the total market, and there are no barriers to entry or exit. Q4. Characteristics of an oligopoly least likely include: A) identical products. B) interdependence among competitors. C) significant barriers to entry. Correct answer is A) In an oligopoly, a small number of producers sell products that can be similar or differentiated. An oligopoly typically features significant barriers to entry including economies of scale. Pricing and output decisions by each firm directly influence the decisions of competing firms. | 
发表于 2008-12-31 10:35
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