Economics Final

Which is an industry with significant barriers to entry and a single supplier?

• Monopolistic Competition

• Oligopoly

• Monopoly

• Perfect Competition

Which is a highly concentrated market with just a few interdependent firms

• Monopoly

• Oligapoly

• Perfect Competition

• Monopolistic Competition

Which is a highly competitive market with slightly differentiated products?

• Monopolistic Competition

• Oligopoly

• Monopoly

• Perfect Competition

Which is a highly competitive market where firms are price takers?

• Perfect Competition

• Monopoly

• Oligopoly

• Monopolistic Competition

Which of the following is the most competitive market structure?

• Monopolistic Competition

• Perfect Competition

• Oligopoly

• Monopoly

Which of the following is the least competitive market structure?

• Monopoly

• Monopolistic Competition

• Oligopoly

• Perfect Competition

Which of the following is NOT a feature of monopolistic competition?

• Numerous Sellers

• Product Differentiation

• Numerous Buyers

• Homogenous Products

In which form of market structure would price be the key factor when competing?

• Monopolistic Competition

• Oligopoly

• Monopoly

• Perfect Competition

Type of monopoly that exists as a result of the high fixed costs or start up cost

• Technological Monopoly

• Natural Monopoly

• Government Monopoly

• Geographic Monopoly

Type of monopoly that exists when a single firm controls manufacturing methods to produce

• Natural Monopoly

• Technological Monopoly

• Government Monopoly

• Geographic Monopoly