In the market where marginal revenue equals demand and the market price is: a) monopolistic competition b) perfect competition c) oligopoly d) monopoly

Please consider firms in the following types of markets: Monopolistic Competition Oligopoly Pure Competition Pure Monopoly Check All That Apply The following questions will ask you to check all of the market types that has each characteristic. There may be only one market type or there may be more than one market type for each characteristic. Price is equal to marginal revenue Monopolistic Competition Oligopoly Pure Monopoly Pure Competition Has high barriers to entry Monopolistic Competition Pure Competition Pure Monopoly Oligopoly Charges the lowest price Pure Monopoly Pure Competition Monopolistic Competition Oligopoly Produces the lowest quantity Monopolistic Competition Pure Monopoly Pure Competition Oligopoly Achieves allocative efficiency in the long run equilibrium Monopolistic Competition Pure Competition Oligopoly Pure Monopoly O O O O

Which of these businesses are in monopolistic competition? Two clothing shops, one selling women clothing and the other selling kids clothing Two agricultural producers, each selling a variety of kinds of citrus fruit Two pet stores, one of which sells dog products and the other of which sells bird products Two phone providers, each offering benefits to customers who switch to its service

Order the market structures according to the level of prices you would expect. Then, order them according to the level of quantity you would expect.

There are four market structures: Perfect competition Monopolistic competition Oligopoly Monopoly Discuss the differences among these four market structures.

A monopolistic competitor engages in advertising to A) provide information about its good or product B) differentiate its product from those of its rivals C) increase the demand for its good or service D) all of the above

The diagram below illustrates a firm under monopolistic competition: (a) Label the curves Curve I, Curve II, Curve III, Curve IV. (b) Graphically identify profit maximizing output and price (c) Explain how the amount of profit is defined at the maximum-profit output. II II IV Q

What type of market exists when a small number of businesses dominate an industry? oligopoly monopolistic competition  monopoly perfect com

Which of the following market types are allocatively efficient?   Question    Monopoly   Oligopoly   Monopolistic competition   None of the above

In the model of monopolistic competition, industry, then we should expect industry. fixed costs; more marginal costs; less marginal costs; more fixed costs; less if an industry has large relative to another firms to operate in a long-run equilibrium of that