
Monopolistic competition
Authored by Misie Zaje
Other
12th Grade
Used 209+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the assumptions of monopolistic competition is that it is made of a ...... number of firms
large
small
moderate
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the short run, in monopolistic competition, the producers produce at a level of output that is...
productively efficient
allocatively efficient
profit maximizing
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The product differentiation is also known as....
price competition
non-price competition
economics of scale
price discrimination
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the long run, in monopolistic competition, the producers will produce at a level of output .....
that is socially optimum
where AC is at a minimum
where MC=MR
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the long run all firms are making
abnormal profit
normal profit
losses
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Short-run losses encourage firms to...
enter the industry
leave the industry
stay in the industry
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What differs monopolistic competition from perfect competition?
product differentiation
long-run inefficiency
barriers to entry
the short-run profits and losses possibility
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