18) The HHI for where have (has) of the market is A. monopolistic competition; four firms each; 25%; 10,000 OB. oligopoly; three firms each; 50%; 5,000 OC. oligopoly; two firms each; 50%; 5,000 OD. monopoly; one firm; 100%; 100,000

D and E

4 When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will do which of the following? A Determine the company's total revenue, total costs, and profits Have no effect on the market forces of demand and supply CO No longer be dictated by the forces of demand and supply DO Determine the company's annual revenue, variable costs, and profits

QUESTION 1 Press F11 to exit full screen Which firm would earn profit in the long-run? O a monopolist firm. O a monopolistically competitive firm. O an oligopoly firm. O a perfectly competitive firm. QUESTION 2 Refer to the graph below for a monopolistically competitive firm. ↑Price MC 160 140 ATC 123.33 Demand 90 56.67 MR 100 133.33 154.92 Quantity If the above firm chose to produce at 100 units then the firm will be O earning a profit O incurring a loss O there is no profit and no loss O the firm can earn, profit, loss or break even

24 If oligopolies compete hard against each other, which of the following will likely occur? A They will start acting like imperfect competitors. They will start acting like monopolistic competitors. The costs for all will be driven up. DO They will all experience zero profits.

1. If the price of a movie rental is $4.00, Mary will rent 5 movies in a month. If the price of a movie rental is $3.00, Mary will rent 8 movies in a month. Mary’s price elasticity of demand for movie rentals is A. 0.00. B. 0.63. C. 1.00. D. 1.59.   2. A monopolistically competitive firm will benefit by spending some of its revenues advertising the product it produces. A. True B. False

What differentiates monopolistic competition from a monopoly?a A seller operating in a monopolistically competitive market no longar facet a downward-sloping demand curve.b. There are more sellers.c. Firms can enter the market selling similar but not identical productd. (b) and (c)e. all of the above