Question

1) Consider the four market structures. In which market structure are there many firms producing differentiated goods?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

2) Consider the four market structures:

(1). Perfect competition

(2). Monopolistic competition

(3). Oligopoly

(4). Monopoly

In which market structure(s) will we see firms that are generally not considered competitive and may have a large amount of market power to set their own prices?

(1) only

(1) and (2)

(4) only

(3) and (4)

(2) and (3)

3) Consider the four market structures:

(1). Perfect competition

(2). Monopolistic competition

(3). Oligopoly

(4). Monopoly

Entry barriers are seen in which market structure(s)?

(1) only

(1) and (2)

(4) only

(3) and (4)

(2) and (3)

4) Consider the four market structures:

(1). Perfect competition

(2). Monopolistic competition

(3). Oligopoly

(4). Monopoly

In which market structure(s) are there most likely to be large economies of scale?

(1) only

(1) and (2)

(4) only

(3) and (4)

(2) and (3)

Answer 1

Answer 1 : Option Bis correct. . Monopolistic competition has been producing differentiated product in the market structure in order to increase there sales by providing differentiate product.

Answer 2: Option C is correct. Oligopoly and monopoly are the market structure where the firms are not competition with each other.andvprice are set by themselves.

Answer 3 : Option C is correct.Entry barriers are seen in oligopoly and monopoly market structure.

Answer 4 : Option C is correct. The monopoly has a large structure of scale in an economy.