Question 1
________ major distinguishing characteristic is that firms are interdependent.
◦ Monopolistic Competition's
◦ Perfect competition's
◦ Monopoly's
◦ Oligopoly's
Question 2
According to the Five Forces Model, there are five competitive forces that determine the level of ________ in an industry.
◦ competition and profitability
◦ entry and exit
◦ product differentiation
◦ supply and demand