There is so much competition in the market place today, particularly price competition.
举一反三
- Oligopolistic competition is a type of market competition. A: TRUE B: FALSE
- Select the statement that distinguishes monopolistic competition from perfect competition. A: No barriers to entry/exist in monopolistic competition. B: A firm in monopolistic competition can set its own price and output. C: A firm in monopolistic competition makes zero economic profit in the long run. D: Close substitutes are available in monopolistic competition.
- Which of the following would occur if a single farm in perfect competition lowered its price below the long-run equilibrium market price?
- When analyzing competition, one should put more emphasis on direct competition than on indirect competition.
- Competition in the market segment with businesses that offer the same type of product or services is referred to as A: segment competition B: free-market competition C: direct competition D: indirect competition