A competitive market structure differs from the monopoly, ...

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A competitive market structure differs from the monopoly, oligopoly, and monopolistic competition structures in the
 
  A) producers' ability to set price.
  B) profit maximization condition.
  C) amount of long-run profit.
  D) entry conditions.

Question 2

A subgame perfect Nash equilibrium
 
  A) can be solved by backward induction.
  B) is a set of strategies that are a Nash equilibrium in every subgame.
  C) is a stronger form of Nash equilibrium.
  D) All of the above are correct.

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Answer to Question 1

A

Answer to Question 2

D