Question 1
Which of the following is LEAST likely to be considered a firm in an imperfectly competitive industry?
◦ British Telecom
◦ A wheat farmer in the east of England
◦ A Kentucky Fried Chicken outlet in Birmingham
◦ A car repair garage in Sheffield
Question 2
In London there is a large number of retail clothing stores. Each store is slightly different from every other store. Retail clothing stores in London are an example of which market structure?
◦ Monopoly
◦ Monopolistic competition
◦ Oligopoly
◦ Perfect competition