Match the characteristic described with the market or markets it applies to by dragging and dropping the type of market into the bin provided. Each characteristic can have multiple answers and each market type can be used multiple times. Can earn economic profit in the long run Produces at lowest possible average cost in the long run The pricing choices of one firm have a dramatic effect on other firms in the market Faces a downward sloping demand curve Usually faces entry from new firms Is typically protected by barriers to market entry Monopoly Perfect Competition Oligopoly Monopolistic Competition

Match the characteristic described with the market or markets it applies to by dragging and dropping the type of market into the bin provided. Each characteristic can have multiple answers and each market type can be used multiple times. Can earn economic profit in the long run Produces at lowest possible average cost in the long run The pricing choices of one firm have a dramatic effect on other firms in the market Faces a downward sloping demand curve Usually faces entry from new firms Is typically protected by barriers to market entry Monopoly Perfect Competition Oligopoly Monopolistic Competition

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter14: Monopoly

Section: Chapter Questions

Problem 14.3P

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