QUESTION 34Monopolist competition and oligopoly are alike in thatOa the number of businesses is approximately the same in eachb. strong mutual interdependence exists among businesses in oachOc barriers to entry are significant to bothd.non-pnce competition is common to bothQUESTION 35If nominal GDP rises:O1.real GDP must also riseO2.real GDP must fall3. the price leel has fallen04. the price level has risen5.real GDP may either rise or fall QUESTION 30The price elasticity of demand indicatesOa the slope of the demand curveOb.how far business executives can stretch their fixed costsOc the extent to which consumers respond to a change in priceOd. the extent to which a demand curve shifts as income changesQUESTION 31A monopolistic competitor's marginal revenue curve:O a. coincides with the dermand curve and is parallel to the horizontal axisO b. is downward-sloping and coincides with the demand curveOt. is downward-sloping and lies above the demand curveCd. is downward-sloping and lies below the demand curve

QUESTION 34 Monopolist competition and oligopoly are alike in that Oa the number of businesses is approximately the same in each Ob. strong mutual interdependence exists among businesses in each Oc barriers to entry are significant to both d.non-price competition is common to both QUESTION 35 If nominal GDP rises: O1.real GDP must also rise O2.real GDP must fall O 3.the price level has fallen 4. the price level has risen O 5.real GDP may either rise or fall

QUESTION 34 Monopolist competition and oligopoly are alike in that Oa the number of businesses is approximately the same in each Ob. strong mutual interdependence exists among businesses in each Oc barriers to entry are significant to both d.non-price competition is common to both QUESTION 35 If nominal GDP rises: O1.real GDP must also rise O2.real GDP must fall O 3.the price level has fallen 4. the price level has risen O 5.real GDP may either rise or fall

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Question 28 Which of the following statements is true? O A monopolist can charge whatever price it wants without losing any customers, by virtue of its monopoly position. O A monopolist can always increase its profits by increasing its price. O In the monopoly market structure, there are low barriers to entry. O A monopolist is assured of positive economic profits. O none of the above
Answer please questions!
How does a commitment to match any price cuts by other firms work to limit price competition in an oligopoly? Select one: O a. Firms that cut price get no benefit in increased market share. O b. Demand decreases as consumers anticipate a price war in the future. Oc. Government regulators step in to avoid a ruinous price war. O d. Demand increases as consumers look more favorably on this industry and its products.
DeBeers was able to profit the most from the diamond market by selling: a lot of diamonds at high prices. 0000 a lot of diamonds at low prices. a few diamonds at low prices. few diamonds at high prices. Show Transcribed Text An oligopoly with two firms is known as: a two-opoly. a double market. 000 a duopoly. duopolistic competition. Show Transcribed Text 3 C A company with a strong brand identity: can perpetuate false perceptions of quality or product differences. conveys to customers an implicit guarantee of a product's quality. promises consistency to customers. All of these statements are true.
Pls help with below homework.
solve this macroeconomics problem, i have attached requirements.
Which of the following is a difference between monopolistic and perfect competition? O A. In perfect competition goods are identical whereas in monopolistic competition they are differentiated O B. In perfect competition firms always have zero economic profits, whereas in monopolistic competition firms always have positive economic profits O C. In monopolistic competition there are barriers to entry whereas in perfect competition there are none O D. In perfect competition the price is set by the market, but in monopolistic competition, the firm can charge whichever price they want
6 Company X, Company Y, and Company Z have formed an oligopoly. Company X raises its prices, but Company Y and Company Z do not. Which of the following will likely occur? A Company Y and Company Z will form a duopoly. BO The sales of Company X will decline slightly. CO The sales of Company X will decline sharply. DO Company X will have significant, sustained profit increases.
The market structure in which entry into the industry is the hardest is: O a. oligopoly O b. perfect competition O c. monopolistic competition O d. monopoly Which factor determines the production decisions of a firm/entrepreneur? O a. None of these O b. Poverty O c. Employment O d. Cost of production
Question 47 Patents, which confer market power, are intended to: maintain the dominance of U.S. firms. O encourage innovation by helping firms recoup the costs of research and development. O protect consumers from imitations or knock-offs. O enable patent holders to charge lower prices for new and innovative products.
1. Characteristics of oligopoly An oligopolistic market structure is distinguished by several characteristics, one of which is either similar or identical products. Which of the following are other characteristics of this market structure? Check all that apply. O Difficult entry O Market control by a few large firms O Neither mutual interdependence nor mutual dependence O Mutual interdependence O Market control by many small firms
QUESTION 1 There is free entry and exit in O only perfect competition O only in monopolistic competition both perfect competition and monopolistic competition O neither perfect competition nor in monopolistic competition QUESTION 2 The equality of marginal revenue and marginal cost to reach a profit maximization level applies to O perfectly competitive markets O monopoly markets O monopolistically competitive markets all kind of markets QUESTION 3 The correct formula to calculate marginal cost is O total cost/Quantity O change in total cost/change in quantity O total cost x quantity O average total cost/quantity O O