举一反三
- In monopolistic competition, the firm can increase price and still sell some output because:
- In both perfect competition and monopolistic competition, each firm A: sells identical products. B: faces a downward-sloping demand curve its product. C: has no monopoly power. D: can enter or exit the market freely.
- 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 one of the following statements is TRUE for BOTH perfect competition and monopolistic competition? A: Each type of firm faces a downward sloping demand curve. B: Each type of firm produces a homogeneous product. C: In the long run, firms in both industries make zero economic profit. D: Each type of firm competes on product quality and price.
- Which of the following characteristics is common to monopolistic competition and perfect competition? A: Firms produce identical products. B: Entry barriers into the industry are low. C: Each firm faces a downward-sloping demand curve. D: Firms take market prices as given.
内容
- 0
In perfect competition, each firm ________. A: can influence the price that it charges B: produces as much as it can C: is a price taker D: faces a perfectly inelastic demand for its product
- 1
A perfectly competitive firm is producing 75 units of output. The market price is $7 and the firm's marginal cost is $8. The firm should:
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[单选]Under which of the following market structures would consumers likely pay the highest price for a product? A: perfect competition B: monopolistic competition C: oligopoly D: monopoly
- 3
In Bertrand competition between two firms, each firm believes that if it changes its output, the rival firm will change its output by the same amount.
- 4
Which is the market structure in which many manufacturers produce and sell products that are different yet substitutable? A: Perfect competition B: Perfect monopoly C: Monopolistic competition D: Oligopoly