
Monopolistic Competition

Quiz
•
Social Studies
•
12th Grade
•
Medium

Gareth Nichols
Used 3+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does Leo's bakery, operating in a monopolistic competition market, have market power?
Because it bakes identical cakes as Oliver's bakery.
Because it is a price taker in the market.
Because it bakes non-homogeneous cakes that are different from Isabelle's bakery.
Because it has a monopoly on cake supply.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Thomas owns a small coffee shop in a town where there are many other coffee shops, each with their own unique blends and flavors. What is the likely characteristic of the demand curve for Thomas's coffee shop, which is in monopolistic competition?
Perfectly elastic
Downward sloping and elastic
Upward sloping
Constant
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