ECONOMICS HELP
1) Firms in a perfect competition have no control over ___
2) What market stru...
ECONOMICS HELP
1) Firms in a perfect competition have no control over ___
2) What market structure is considered to be a price taker?
3) Void
4) A firm that shuts down in perfect competition does not escape __
5) In an oligopolistic market, when firms form an agreement to divide the market and fix the prices, this is called __
6) What is considered to be a price maker?
7) Void
8) In perfect competition, marginal revenue is __
9) A monopolist is __
10) What prevents potential competitors from entering a monopolist's market?
11) An oligopoly market structure is dominated by __
12) What market structure has an emphasis on product differentiation through physical differences, locations and services?
13) The practice of charging different prices to different consumers of the same product is called __
14) What country is a monopoly supplier of pandas?
15) What company is responsible for establishing a monopoly over the distribution of diamonds for many years?
16) The price charged by a perfectly competitive firm is determined by __
17) Which market type takes into consideration physical differences, location, services, and product image with their products?
18) In the short run, a perfectly competitive ball bearing manufacturer will continue to produce at a loss if __
19) What does a monopoly control that a perfectly competitive firm doesn't?
20) A monopolistic competition market structure is considered to be __
21) A firm in perfect competition market structure has a market price of 150$. How much is marginal revenue?
22) How much in total revenue in a perfect market structure, if the price is 150$ and the quantity is 6?
23) If the total revenue is 426$ and the total cost is 340$ in a monopoly, do we have a profit or a loss and how much?
24) If the company has zero quantity of a product and the price is 172$, how much is total revenue?
25) In a perfect competition, if marginal revenue is 225$, how much is the price?
Answers: 1
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