Mic10: Market structures, types of monopoly
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Last updated almost 6 years ago
5 questions
1
Place the correct characteristic under its market structure.
Place the correct characteristic under its market structure.
- many firms (100's-1000's)
- few firms (3-12)
- one firm
- price taker
- identical products
- collusion
- unique product
- product differentiation
- a lot of non-price competition
- most control over price
- Perfect Competition
- Monopolistic competition
- Oligopoly
- Monopoly
1
What type of monopoly exists because there are no other firms within a given area?
What type of monopoly exists because there are no other firms within a given area?
1
What type of monopoly has control over a production method, process, or other scientific advance such as a patent or copyright.
What type of monopoly has control over a production method, process, or other scientific advance such as a patent or copyright.
1
What type of monopoly can supply a good or service to an entire market at a lower cost than could two or more firms?
What type of monopoly can supply a good or service to an entire market at a lower cost than could two or more firms?
1
What type of monopoly is owned and operated by the government?
What type of monopoly is owned and operated by the government?