AICS ECO121 SIR AJE

How many firms are there in a perfect competition?

• Mao nani kay wala nagtuon.

• 1

• 3 to 4 only

• Many

Factors that make it difficult for new firms to enter a market are called____?

• Backer

• Barriers to entry

• Free Entry

• Membership

How many firms are there in a monopoly?

• 1

• 2

• 3

• Many

What is the term for a market structure with only one seller?

• Monopoly

• Oligopoly

• Monopolistic Competition

• Perfect Competition

Which of the following is not a characteristic of perfect competition?

• Homogeneous product

• Many buyers and sellers

• Barriers to entry

• Perfect information

What is the term for a market structure with a few large firms dominating the market?

• Monopoly

• Oligopoly

• Monopolistic Competition

• Perfect Competition

What is the term for a market structure with a single buyer?

• Monopsony

• Oligopsony

• Monopolistic Competition

• Perfect Competition

What is the term for a market structure with a few interdependent firms dominating the market?

• Monopoly

• Oligopoly

• Monopolistic Competition

• Perfect Competition

Which of the following is a characteristic of monopolistic competition?

• Homogeneous product

• Many buyers and sellers

• Product differentiation

• Perfect information

What is the term for a market structure with a few sellers?

• Monopoly

• Oligopoly

• Monopsony

• Perfect Competition