Q1. Which of the following is most likely to be considered a characteristic of monopolistic competition? A) Inelastic demand curves. B) High barriers to entry and exit. C) Differentiated products.
Q2. Which of the following most accurately describes why firms under monopolistic competition face elastic demand for their products? A) Allocative efficiency. B) The availability of many close substitutes. C) High barriers to entry.
Q3. Which of the following is least likely to be considered a feature that is common to both monopolistic competition and perfect competition? A) Low or no barriers to entry. B) Zero economic profits in the long run. C) Extensive advertising to differentiate products.
Q4. An oligopoly is charcterized by all of the following EXCEPT: A) a large number of sellers. B) large economies of scale. C) significant barriers to entry.
Q5. Monopolistic competition differs from pure monopoly in that:
A) monopolistic competitors have low barriers to entry and monopolists do not. B) monopolistic competitors are price takers and monopolists are not. C) monopolists maximize profits and monopolistic competitors do not.
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发表于 2009-1-14 14:00
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