A form of industry structure characterized by a few firms, each large enough to influence market price is ?

Related Mcqs:

When ________ substitutes exist, a monopolist has ________ power to raise price?

A. more; more B. fewer; less C. more; less D. no; infinite...

Relative to a competitively organized industry a monopoly ?

A. Produces less output, charges higher prices and earns economic profits. B. Produces less output, charges lower prices and earns only a normal profit C. produces more output, charges higher prices and earns economics profits D. produces less output, charges lower prices and earns economic profits...

The costs that depend on output in the short run are ?

A. total fixed cost only. B. total variable costs only. C. both total variable costs and total costs. D. total costs only...

Suppose we know that a monopolist is maximizing its profits. Which of the following is a correct inference? the monopolist has?

A. maximized its total revenue B. set price equal to its average cost C. equated marginal revenue and marginal cost D. maximized the difference between marginal revenue and marginal cost....

In contestable markets, large oligopolistic firms, end up behaving like ?

A. perfectly competitive firms B. a cartel C. a monopoly D. monopolistically competitive firms....