Four Market Structures Study Guide

Does oligopoly have some control over price?

• True

• False

Fast good is an example of which market structure?

• Monopoly

• Perfect Competition

• Monopolistic Competition

• Oligopoly

Which market structure(s) have low barriers to entry?

• Monopolistic Competition

• Perfect Competition

• Monopolistic Competition and Monopoly

• Monopolistic Competition and Perfect Competition

Which of the following is NOT an example of a non-price competition?

• Location

• Service

• Substitute

• Product Attributes

Which market structure(s) have high barriers to entry?

• Monopoly

• Oligopoly

• Monopoly and Oligopoly

• Monopoly and Monopolistic Competition

Which one of the following is NOT a barrier to entry for monopoly?

• Economies of Scale

• Government Created Barriers

• Geography or Ownership of Raw Materials

• Mutual Interdependence

Does differentiated products have goods that ARE identical?

• True

• False

Does perfect competition have perfect substitutes?

• True

• False

Car manufacturers belong to which market structure?

• Monopoly

• Perfect Competition

• Monopolistic Competition

• Oligopoly

Strawberry and cereal market belong to which market structure?

• Monopoly

• Perfect Competition

• Monopolistic Competition

• Oligopoly