Why does no one firm dominate in a perfect competition?
market structures
11th - 12th Grade
•20 Qs
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market structures
Quiz
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Jon Inge
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Other
•
11th - 12th Grade
•
1K plays
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Medium
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
No firm wants to
Each firm sells to different people
Each firm produces so little of the total supply that they cannot influence prices
One firm will eventually dominate and make it a monopoly
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Factors that make it difficult for new firms to enter a market are called
Barriers to entry
Factors of production
Limited supply
Monopolistic Outlook
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What prevents firms from entering a monopoly?
Barriers to Entry
Technology
Price
Barriers to Travel
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Businesses can "Collude" or work together to set prices
Oligopoly
Monopoly
Perfect Competition
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Choose the example that goes best with an oligopoly.
apples
cell phone providers
utilities
clothing
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following industries is an example of a monopoly?
utilities/water
department stores
auto industry
commercial airlines
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)
monopoly
oligopoly
perfect competition
monopolistic competition
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