Question 1
In an imperfectly competitive market, changes in market conditions are often signalled to the individual firms by a change in the
◦ government policy.
◦ firm's sales.
◦ price of the product.
◦ elasticity of supply.
◦ cost conditions.
Question 2
In what way can an oligopolistic market structure be beneficial to society?
◦ Oligopolistic firms compete through innovation, which is a driving force of economic growth and increasing living standards.
◦ An oligopolistic market structure is most adaptive to today's rapid rate of technological change.
◦ Oligopolistic firms compete through advertising, which increases economic efficiency.
◦ An oligopolistic market structure is most conducive to non-competitive behaviour, which leads to lower prices for consumers in the long run.
◦ Oligopolistic firms are able to exploit all existing economies of scale and operate at the minimum of long-run average costs, and thereby reduce the use of society's resources.
The age structure of human populations in West Africa and Western Europe, as of 2000.
Structure of the pyruvate dehydrogenase complex
Structure of the F0F1 complex
Location and structure of the stomach
Structure of a skeletal muscle.
Relationship of a DNA base sequence to peptide structure