Multiple Choice
Differentiated products is a characteristic of:
A) Monopolistic competition only
B) Oligopoly only
C) Both monopolistic competition and oligopoly
D) Monopoly
Correct Answer:

Verified
Correct Answer:
Verified
Q15: Marginal revenue of a firm is constant
Q16: A seller cannot influence the market price
Q17: When AR passes through minimum point of
Q18: Under perfect competition, MR curve is:<br>A)Horizontal<br>B)Vertical<br>C)Falling<br>D)Rising
Q19: The short-run supply curve of the perfectly
Q20: At the shut-down point,<br>A)P =AVC<br>B)TR = TVC<br>C)the
Q21: 'Homogenous products' is a characteristic of:<br>A)Perfect competition
Q22: There are only a few sellers under<br>A)Perfect
Q23: Monopoly means:<br>A)Single firm<br>B)No close substitutes<br>C)Barriers to entry<br>D)All
Q25: When AR is above AC, firm earns:<br>A)Supernormal