Question

Question 1

In Monopolistic Competition there is only one seller for a specific good.

	True
	False

Question 2

In pure competition you can sell all you want at the specified price.

	True
	False

Question 3

In Oligopoly, there are many sellers all selling the same good at the same price.

	True
	False

Question 4

In monopoly, you can sell all you would like at the market price.

	True
	False

Question 5

Collusion is an agreement among sellers about quantities to produce or prices to charge.

	True
	False

Answer 1

In Monopolistic Competition there is only one seller for a specific good.-False, in monopolistic competion there is more than one seller.

In pure competition you can sell all you want at the specified price. - True,

In Oligopoly, there are many sellers all selling the same good at the same price.-False, oligopoly has more than one seller but the number of sellers is less than monopolistically competitive firms

In monopoly, you can sell all you would like at the market price.-False, The monopolist will produce only that much what is demanded.

Collusion is an agreement among sellers about quantities to produce or prices to charge.-True