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Social Science Clinic => Economics => Topic started by: sabina on May 25, 2020

Title: In London there is a large number of retail clothing stores. Each store is slightly different from ...
Post by: sabina on May 25, 2020

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

Title: In London there is a large number of retail clothing stores. Each store is slightly different from ...
Post by: ashely1112 on May 25, 2020

Answer 1

A wheat farmer in the east of England

Answer 2

Monopolistic competition

Title: Re: In London there is a large number of retail clothing stores. Each store is slightly different fr
Post by: Rg099 on May 12, 2023

Thank you