A perfectly elastic (horizontal) demand curve indicates that this market for wid

Question

A perfectly elastic (horizontal) demand curve indicates that this market for widgets is:

A. Perfectly Competitive

B. Monopolistically Competitive

C. Oligopolistic

D. Monopolistic

Question 54 of 63

1.0 Points

A. A

B. B

C. C

D. D

Question 55 of 63

1.0 Points

A. A

B. B

C. C

D. D

Question 56 of 63

1.0 Points

A. A

B. B

C. C

D. D

Consider the following markets for Widgets:

A perfectly elastic (horizontal) demand curve indicates that this market for widgets is:

A. Perfectly Competitive

B. Monopolistically Competitive

C. Oligopolistic

D. Monopolistic

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Question 54 of 63

1.0 Points

Mark A, B, C, or D, according to the above market models. Which of model represents the long run equilibrium?

A. A

B. B

C. C

D. D

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Question 55 of 63

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In which of the models would the Widget producing firm be operating at a profit.

A. A

B. B

C. C

D. D

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Question 56 of 63

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In which of the above models would the Widget producing firm operate at a loss, but would not shut down?

A. A

B. B

C. C

D. D

Explanation / Answer

A perfectly elastic (horizontal) demand curve indicates that this market for widgets is:

A. Perfectly Competitive

2) B, monopolistically competitive.

3)D, monopolistic

4)A, perfectly competitive

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