1. (TCO 3) In which market model would there be a unique product for which there

Question

1. (TCO 3) In which market model would there be a unique product for which there are no close substitutes? (Points : 3)       Monopolistic competition
      Pure competition
      Pure monopoly
      Oligopoly

Graph Description

Graph Description

Price per Ticket

Quantity Demanded

$13

1,000

11

2,000

9

3,000

7

4,000

5

5,000

3

6,000

Graph Description

Graph Description

2. (TCO 3) In which two market models would advertising be used most often? (Points : 3)       Pure competition and monopolistic competition
      Pure competition and pure monopoly
      Monopolistic competition and oligopoly
      Pure monopoly and oligopoly

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