Econ Test 2 (types of markets)

How many firms are in a perfect competition?

• Many

• Few

• One

• Zero

How many firms are in a monopolistic competition?

• Many

• Few

• One

• Zero

How many firms are in a oligopoly?

• Many

• Few

• One

• Zero

How many firms are in a monopoly?

• Many

• Few

• One

• Zero

What types of products are in a perfect competition?

• commodity

• similar, but differentiated products

• 1 unique product

• ur mom

What types of products are in a monopolistic competition?

• commodity

• similar, but differentiated products

• 1 unique product

• ur mom

What types of products are in an oligopoly?

• commodity

• similar, but differentiated products

• 1 unique product

• ur mom

What type of products are in a monopoly?

• commodity

• similar, but differentiated products

• 1 unique product

• ur mom

How much control do perfect competitions have over prices?

• None

• Some

• Alot

• Complete

How much control do monopolistic competitions have over prices?

• None

• Some

• Alot

• Complete