for firms. Question 2 of 10 10.0 Points A. a market structure with no more

ECON 101 Quiz 7 Week 7 Ch 11 Part 1 of 1 – 100.0 Points Question 1 of 10 10.0 Points A. small number of firms producing identical products, with barriers to entry for firms. B. small number of firms producing similar products, with relatively easy entry for firms. C. large number of firms producing similar products, with relatively easy entry for firms. D. large number of firms producing identical products, with relatively easy entry for firms. Question 2 of 10 10.0 Points A. a market structure with no more than one firm in the industry. B. an industry in which all firms are price takers. C. a market structure where firms have a degree of monopoly power. D. described by all of the above. Question 3 of 10 10.0 Points A. monopolistic competition and oligopoly. B. monopolistic competition and monopoly. C. perfect competition and monopoly. D. monopoly and oligopoly. Question 4 of 10 10.0 Points A. MC = ATC. B. MC = AR. C. MC = P. D. MC = MR. Question 5 of 10 10.0 Points A. perfect competition. B. monopoly. C. monopolistic competition. D. oligopoly. Question 6 of 10 10.0 Points A. actions; rivals; reactions B. price changes ; total revenue in a positive way; reactions C. actions rarely; rivals; actions D. price increases; total revenue in the long run only; large but not small price changes Question 7 of 10 10.0 Points A. efficiency. B. diseconomies of scale. C. marginal cost. D. market dominance. Question 8 of 10 10.0 Points A. monopoly. B. oligopoly. C. monopolistic competition. D. perfect competition. Question 9 of 10 10.0 Points A. equal to marginal revenue. B. greater than marginal revenue. C. less than marginal revenue. D. greater than total revenue. Question 10 of 10 10.0 Points A. cartelization. B. oligopolization. C. overt collusion. D. tacit collusion.