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Author Question: Which of the following markets is closest to a monopoly? A) a firm with a 90 market share B) the ... (Read 54 times)

jeatrice

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on: Jul 1, 2018
Which of the following markets is closest to a monopoly?
 
  A) a firm with a 90 market share
  B) the only gas station for 100 miles
  C) cable television
  D) garbage disposal

Question 2

Firms that exhibit price-taking behavior
 
  A) wait for other firms to set price, take it as given, and charge a higher price.
  B) have outputs that are too small to influence market price and thus take it as given.
  C) take pricing behavior in their own hands.
  D) are independently capable of setting price.
Microeconomics ¦ Perloff ¦ 8th Edition
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mceravolo

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


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