The larger the number of firms in an industry, the easier it is to implicitly co
ID: 1187556 • Letter: T
Question
The larger the number of firms in an industry,
the easier it is to implicitly collude to fix prices.
the more intense the rivalry among firms.
the greater the need for a price enforcement mechanism.
the larger the potential number of market segments.
Producing a differentiated product occurs in which of the following industries?
oligopoly, monopolistic competition and perfect competition
monopolistic competition only
oligopoly only
monopolistic competition and oligopoly
Which of the following is not among Porterʹs competitive
forces?
power of buyers
power of suppliers
threat of new entrants
changing consumer tastes
A. identical to that of a perfect competitive firm. B. identical to that of a monopolistically competitive firm. C. vertical on a price quantity diagram. D. unknown because a response of firms to price changes by rivals is uncertain.Explanation / Answer
1.c 2.d 3.c 4.b 5.a 6.c
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