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ECN 001A Lecture 9: Perfect Competition

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6 May 2018

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Perfect Competition

Tuesday,)May)1,)2018

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ECN 001A Full Course Notes

ECN 001A Full Course Notes

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Related Questions

What is the main difference between perfect competition and monopolistic competition?

A) Perfect competition has a large number of small firms while monopolistic competition does not.

B) In perfect competition, firms produce identical goods, while in monopolistic competition, firms produce slightly different goods.

C) Perfect competition has no barriers to entry, while monopolistic competition does.

D) Perfect competition has barriers to entry while monopolistic competition does not

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In which of the following market structures can firms be price makers?

Monopoly, monopolistic competition, and oligopoly.
Perfect competition, monopolistic competition, and oligopoly.
Monopoly, perfect competition, and oligopoly.
Monopoly, monopolistic competition, and perfect competition.

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In which of the following market structures can firms be price makers?

a. monopoly, monopolistic competition, and oligopoly.

b. perfect competition, monopolistic competition, and oligopoly.

c. monopoly, perfect competition, and oligopoly.

d. monopoly, monopolistic competition, and perfect competition.

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