Home / Questions / There are fewest problems in distinguishing between which two market structures? a.oligop
There are fewest problems in distinguishing between which two market structures?
a.oligopoly and monopolistic competition
b.monopolistic competition and perfect competition
c.monopoly and perfect competition
d.oligopoly and monopoly
e.oligopoly and perfect competition
12. Most firms on the Fortune 500 list are
a.monopolies
b.monopolistically competitive
c.oligopolies
d.imperfectly competitive
e.perfectly competitive
13. Entry into an oligopoly is
a.possible for anyone
b.time consuming
c.relatively easy
d.impossible
e.relatively difficult
14. Which characteristics best describe oligopolies?
a.low fixed costs
b.mutual interdependence
c.very large firms
d.identical pricing
e.many firms
15. Which characteristic does not help define a monopoly?
a.no close substitutes
b.price-making behavior
c.firm is the industry
d.mutual interdependence
e.firm’s demand curve is market demand curve
16. Natural monopolies result from the peculiar relationship between
a.government regulation and the ownership of scarce resources
b.threats to potential entrants and the price of the product
c.the size of market demand and the firm’s cost structure
d.product differentiation and the ownership of patents
e.the firm’s advertising campaigns and its labor policies
17. Baking soda, a common household item, is produced from a mineral deposit called soda
ash. There is only one soda ash deposit in the United States, and it is owned by the Leg
and Plier Baking Soda Company. It is reasonable to describe this firm as a(n)
a.unbalanced oligopoly
b.balanced oligopoly
c.acquisitive oligopoly
d.natural monopoly
e.unnatural monopoly
18. Suppose there are only two steel firms in the steel industry and their prices are equal to or
very close to their ATCs. This circumstance suggests that
a.steel firms are not profit maximizing
b.steel has no close substitutes
c.the demand for steel is weak
d.quantity supplied is less than quantity demanded at the market prices
e.close substitutes are produced in other industries
19. Suppose there is only one firm producing steel, one producing fiberglass, and one
producing concrete. If steel and concrete are considered substitute goods in construction,
while steel and fiberglass are considered substitute goods in auto production, there is no
monopoly in the
a.steel market
b.fiberglass market
c.concrete market
d.construction market
e.boat market
20. Coca-Cola has a secret formula that has never been copied. This is because Coca-Cola
a.is an unbalanced oligopoly
b.has a trademark that cannot be copied
c.has patent rights on the formula
d.has exclusive access to formula information
e.is a natural monopoly
Dec 12 2019 View more View Less
Flexible budget, direct materials, and direct manufacturing labor variances. Palermo Satuary bust statues of famous historical figures. All statues are the same size. Eac...
Jul 22 2021navilla corp was formed by lynn in 20x1 with an initial capitalization of $2 million. In 20x1 max was one of the original shareholders, receiving 100 shares of stock and ...
Jul 19 2021What is one difference between a firm in a perfectly competitive industry and a firm in a monopolistically competitive industry?
Jun 02 2021State true or false?Hyrophilic molecules dissolves in water more reaadily than hyrophic molecules
Jul 16 2021There are different information systems that serve the needs of different organization members atdifferent organizational levels. Which of the following information syste...
Dec 10 2017Complete instructions on plagiarism by reading over all of the files uploaded
Mar 21 2020Good documents and records are some of the best preventive controls.TrueFalse
Aug 12 2021Target costingToyota Motor Corporation (TM) uses target costing. Assume that Toyota marketing personnel estimate that the competitive selling price for the Camry in the u...
May 15 2021q1__XYZ company expects in the coming year: sales of 40,000 units at $10 per unit, variable operating costs of $4 per unit, fixed operating costs of $30,000, interest of ...
Apr 12 2021Assume Global Cleaning Service had net income of $570 for the year. Global Cleaning Service’s beginning and ending total assets were $4,520 and $4,180, respectively. Calc...
Apr 22 2020