Multiple Choice
In a small town the level of demand is capable of supporting only two petrol stations. This market is
A) an example of monopolistic competition.
B) operating as if it was a monopoly.
C) perfectly competitive because a homogeneous good is being sold.
D) a natural duopoly.
Correct Answer:
Verified
Correct Answer:
Verified
Q24: There are two firms that compete against
Q25: A strategy called "limit pricing" sets the
Q26: Firm 1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt="Firm 1
Q27: In an oligopoly<br>A) there is no product
Q28: In a prisoner's dilemma game, each person
Q30: A contestable market is one in which
Q31: If firms in an industry differentiated their
Q32: Asus<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt="Asus
Q33: A single firm in a contestable market
Q34: Firm A<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt="Firm A