Which of the following is not a characteristic of oligopoly?
Group of answer choices
a There are a small number of sellers with large shares of the market
b The actions of one seller will affect the actions of the others
c Each seller produces identical goods
d There are high barriers to entry
Which of the following is not a characteristic of oligopoly? Group of answer choices a There...
Which of the following is not a characteristic of oligopoly? Group of answer choices a The actions of one seller will affect the actions of the others b There are a small number of sellers with large shares of the market c Each seller produces a different good d There are high barriers to entry
1) Which of the following is an assumption of monopolistic competition? Group of answer choices a There are no barriers to entry b Each seller produces a similar, but different good c There is a single seller d The actions of one seller will affect the actions of the others 2) Suppose a price-taking firm has total fixed costs of $200 and the following marginal costs: Quantity 1 2 3 4 5 6 7 MC 50 30 60 80 100...
1) Which market structure is characterized by a single price-searching firm that produces a unique good and is protected by high barriers to entry? Group of answer choices a Monopolistic Competition b None of these answers c Oligopoly d Perfect Competition 2) In which of these market structures do sellers specifically sell identical goods? Group of answer choices a Oligopoly b Perfect Competition c Monopolistic Competition d Monopoly
Which of the following is not a characteristic of a monopolistically competitive market structure? A.) Each firm must react to actions of other firms. B.) There are low barriers to entry of new firms. C.) There is a large number of independently acting small sellers. D.) All sellers sell products that are differentiated.
QUESTION 1 Which of the following is always a characteristic of the oligopoly market structure? Many sellers, each small in size relative to the overall market. Few sellers. All sellers produce identical products. Easy, low-cost entry and exit. QUESTION 2 The industry that most closely approximates the conditions of the oligopoly model is: Restaurant. Retail clothing. Airlines in the U.S. The local cable company. QUESTION 3 In which of the following market structures must the price and output decisions of...
Which is not a characteristic of a competitive market? a large number of firms offering similar products O Firms have some degree of control over prices. O no product differentiation between firms little or no barriers to entry Question 2 of 21 > Classify each market characteristic as being a trait of competitive markets, monopolistically competitive markets, or both market structures. Competitive Markets Monopolistically Competitive Markets Both Market Structures Answer Bank No one buyer or seller can control prices Few,...
A characteristic of monopolistic competition that is not present in any other market structure is that there 1is only one seller and that seller holds a high level of market power. 2are many sellers and each produces its own version of the product. 3are a small number of sellers who have market power. 4are many sellers that produce identical products.
A characteristic of perfect competition that is not present in any other market structure is that there 1are many sellers and each produces its own version of the product. 2are a small number of sellers and at least a few of them have market power. 3is only one seller and that seller holds a high level of market power. 4are many sellers that produce identical products.
Which of the following is NOT a characteristic of an oligopoly? O firms must consider the actions of their rivals O there are no barriers to entry O products are differentiated O firms have the ability to influence prices
Which of the following is a characteristic of a monopolistically competitive market? O only one seller of a good that has no close substitutes O firms are price setters O products are identical Othere are high barriers to entry