11 May WHICH ONE OF THE FOLLOWING IS THE BEST EXAMPLE OF AN OLIGOPOLISTIC INDUSTRY?
Which one of the following is the best example of an oligopolistic industry?
A)
long-distance telephone service
B)
wheat growers
C)
apple growers
D)
public utilities
16)
Which one of the following is the best example of an oligopolistic industry?
A)
wheat growers
B)
apple growers
C)
public utilities
D)
soft drinks
17)
If the government limits the number of firms in a market by issuing a limited
number of licenses, the market structure is most likely to be
A)
a perfectly competitive market.
B)
a monopoly.
C)
a monopolistically competitive market.
D)
an oligopoly.
18)
If substantial up-front investments in advertising campaigns become essential
to a successful market entry, the market is most likely to be
A)
a perfectly competitive market.
B)
a monopoly.
C)
a monopolistically competitive market.
D)
an oligopoly.
19)
An oligopoly might occur as a result of
A)
economies of scale in production.
B)
government barriers to entry.
C)
advertising.
D)
all of the above
20)
A special case of an oligopoly where there are only two firms is called
A)
a monopoly.
B)
a duopoly.
C)
perfect competition.
D)
monopolistic competition.
21)
A duopoly is an industry with
A)
one firm.
B)
two firms.
C)
many firms that sell slightly differentiated products.
D)
many firms that sell identical products.
22)
When firms cooperate with each other rather than compete
A)
consumers will end up better off.
B)
the firms will end up better off.
C)
both consumers and firms end up better off.
D)
they will agree to set low prices to help each other out.
23)
A group of firms that coordinate their pricing decisions is called
A)
a monopoly.
B)
a duopoly.
C)
a cartel.
D)
monopolistic competition.
24)
An arrangement under which a number of firms acts as a single firm and
coordinate their pricing decisions is
A)
a monopoly.
B)
monopolistic competition.
C)
price fixing.
D)
perfect competition.
15)
Which one of the following is the best example of an oligopolistic industry?A)
long-distance telephone serviceB)
wheat growersC)
apple growersD)
public utilities 16)
Which one of the following is the best example of an oligopolistic industry?A)
wheat growersB)
apple growersC)
public utilitiesD)
soft drinks 17)
If the government limits the number of firms in a market by issuing a limited
number of licenses, the market structure is most likely to beA)
a perfectly competitive market.B)
a monopoly.C)
a monopolistically competitive market.D)
an oligopoly. 18)
If substantial up-front investments in advertising campaigns become essential
to a successful market entry, the market is most likely to beA)
a perfectly competitive market.B)
a monopoly.C)
a monopolistically competitive market.D)
an oligopoly. 19)
An oligopoly might occur as a result ofA)
economies of scale in production.B)
government barriers to entry.C)
advertising.D)
all of the above 20)
A special case of an oligopoly where there are only two firms is calledA)
a monopoly.B)
a duopoly.C)
perfect competition.D)
monopolistic competition. 21)
A duopoly is an industry withA)
one firm.B)
two firms.C)
many firms that sell slightly differentiated products.D)
many firms that sell identical products. 22)
When firms cooperate with each other rather than competeA)
consumers will end up better off.B)
the firms will end up better off.C)
both consumers and firms end up better off.D)
they will agree to set low prices to help each other out. 23)
A group of firms that coordinate their pricing decisions is calledA)
a monopoly.B)
a duopoly.C)
a cartel.D)
monopolistic competition. 24)
An arrangement under which a number of firms acts as a single firm and
coordinate their pricing decisions isA)
a monopoly.B)
monopolistic competition.C)
price fixing.D)
perfect competition.
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