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
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Chapter1: Making Economics Decisions
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QUESTION 34
Monopolist competition and oligopoly are alike in that
Oa the number of businesses is approximately the same in each
b. strong mutual interdependence exists among businesses in oach
Oc barriers to entry are significant to both
d.non-pnce competition is common to both
QUESTION 35
If nominal GDP rises:
O1.real GDP must also rise
O2.real GDP must fall
3. the price leel has fallen
04. the price level has risen
5.real GDP may either rise or fall
Transcribed Image Text:QUESTION 34 Monopolist competition and oligopoly are alike in that Oa the number of businesses is approximately the same in each b. strong mutual interdependence exists among businesses in oach Oc barriers to entry are significant to both d.non-pnce competition is common to both QUESTION 35 If nominal GDP rises: O1.real GDP must also rise O2.real GDP must fall 3. the price leel has fallen 04. the price level has risen 5.real GDP may either rise or fall
QUESTION 30
The price elasticity of demand indicates
Oa the slope of the demand curve
Ob.how far business executives can stretch their fixed costs
Oc the extent to which consumers respond to a change in price
Od. the extent to which a demand curve shifts as income changes
QUESTION 31
A monopolistic competitor's marginal revenue curve:
O a. coincides with the dermand curve and is parallel to the horizontal axis
O b. is downward-sloping and coincides with the demand curve
Ot. is downward-sloping and lies above the demand curve
Cd. is downward-sloping and lies below the demand curve
Transcribed Image Text:QUESTION 30 The price elasticity of demand indicates Oa the slope of the demand curve Ob.how far business executives can stretch their fixed costs Oc the extent to which consumers respond to a change in price Od. the extent to which a demand curve shifts as income changes QUESTION 31 A monopolistic competitor's marginal revenue curve: O a. coincides with the dermand curve and is parallel to the horizontal axis O b. is downward-sloping and coincides with the demand curve Ot. is downward-sloping and lies above the demand curve Cd. is downward-sloping and lies below the demand curve
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