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Market Structure I

Authored by Nassyuha Samad

Business

University

Used 2+ times

Market Structure I
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the objective of a firm?

Minimize profit

Maximize cost

Maximize profit

Reduce benefit of product

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

____ is an independent unit of producing goods and services for sale.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For Monopoly market type, which characteristic is correct?

few number of firms

Blocked entry

small price elasticity of demand

differentiated product

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

what happened to this firm profit maximisation in short run?

supernormal profit

breakeven

loses

shut down

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

what happened to this firm profit maximisation in short run?

supernormal profit

breakeven

loses

shut down

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

what happened to this firm profit maximisation in short run?

supernormal profit

breakeven

loses

shut down

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

what happened to this firm profit maximisation in short run?

supernormal profit

breakeven

loses

shut down

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