Author Question: A market structure in which a small number of producers compete against each other is A) ... (Read 79 times)

craiczarry · **on:** Jun 29, 2018

A market structure in which a small number of producers compete against each other is

A) monopolistic competition.
B) oligopoly.
C) monopoly.
D) perfect competition.

Question 2

If the price of a good increases, all else the same, then the consumer's total utility will

A) increase.
B) decrease.
C) remain the same as consumption shifts to cheaper goods.
D) decrease if there are no substitutes for the good and remain the same if there are substitutes for the good.