Price leadership-the firm that uses a price taker is

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Firms have excess capacity in the long run under: (A) oligopoly (B) cartel (C) monopolistic competition (D) none of these

The firm that uses a price taker is: (A) monopolistic competition (B) cartel (C) perfect competition (D) oligopoly

Inelastic long run market demand is very important for this type of industry to survive and do well in the long run: (A) monopolistic competition (B) cartel (C) perfect competition (D) oligopoly

In the long run, which type of firm may follow "price leadership"? (A) oligopoly (B) monopoly (C) cartel (D) monopolistic competition

Increasing marginal returns occurs in some production functions because? (A) some input being fixed (B) specialization labor (C) rising profits (D) none of these

Firms in an oligopoly may: (A)have a larger market shares (B) do a lot of advertising (C) follow price leadership (D) all of these are true

One condition that IS true for perfect competition but IS NOT true for monopolistic competition is: (A) homogeneous products (B) many small sellers (C) free entry and exit (D) perfect information

Under perfect competition, in the long run, firms: (A) sell at equal price to marginal cost (B) make zero profits (C) produce the maximum technical efficiency output level (D) all of these are true

Reference no: EM13986846

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