Question

Question 11

Which market structure has a few interdependent sellers?

	monopolistic competition
	monopoly
	perfect competition
	oligopoly

Question 12

Which of the following is legal?

	collusion
	none of the above
	price leader
	cartel

Question 13

When a dominant firm sets the price and others follow, what is that called?

	price leader
	crowding out
	cartel
	collusion

Question 14

Which theory answers the question "How would my competitor respond if I did this?"

	crowding out
	price leadership
	Game Theory
	collusion

Question 15

Which of the following is a barrier to entry in an Oligopoly market?

	Economies of Scale
	high cost of entry
	crowding out
	all of the above are barriers

Answer 1

11. Oligopoly market structure has a few interdependent sellers. Hence,option(D) is correct.

12. Price leader is legal. Hence,option(C) is correct.

13. When a dominant firm sets the price and other follow , it is called price leader. Hence,option(A) is correct.

14. Game theory answers the question "How would my competitor respond if I did this". Hence,option(C) is correct.

15. Economies of scale is a barrier to entry in an oligopoly market. Hence,option(A) is correct.