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Which of the following is not a characteristic of a competitive market?
选项：

A:Buyers and sellers are price takers.;
B:Each firm sells a virtually identical product.;
C:Entry is limited;
D:Each firm chooses an output level that maximizes profits.

发布时间：2024-06-21 23:41:19

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1.If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output?
2.In a competitive market, both buyers and sellers are price takers.
3.Which of the following regarding monopolistic competition isnost accurate? 选项： A: Each firm produces a differentiated product. B: There are very few independent sellers. C: Zero barriers to entry and exit exist.
4.A perfectly competitive firm charges the market price of $18 to sell its product. The firm produces and sells the profit-maximizing quantity of 50 units at this price. Its average total cost is $17 and its average variable cost is $15. Which of the following statements is then true? 选项： A: This firm should shut down now. B: At this current level of production, the firm's marginal cost is $17. C: At this current level of production, the firm's marginal cost is $15. D: The firm is earning an economic profit of $50.
5.If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output?? p > MCMR > MCAll of the abovep ≥ AVC
6.A firm in monopolistic competition 选项： A、earns positive monopoly profits because each sells a differentiated product. B、earns positive oligopoly profits because each firm sells a differentiated product. C、earns zero economic profits because it is in perfectly or pure competition. D、earns zero economic profits because of free entry.
7.The key difference between a competitive firm and a monopoly firm is the ability to select 选项： A: the price of its output. B: the level of competition in the market. C: the level of production. D: inputs in the production process.
8.A monopolistic firm _________________.选项： A:can sell as much as it wants for any price it determines in the market.; B:cannot sell additional quantity unless it raises the price on each unit.; C:chooses an output at which marginal revenue equals marginal cost.; D:cannot determine the price, which is determined by consumer demand.
9.If a perfectly competitive firm can sell each unit of output for $9, and the marginal cost of the last unit produced is $8.50, then the: 选项：extra benefit of the last unit produced is greater than the extra cost.extra benefit of the last unit produced is less than the extra cost.firm is earning an average profit of $0.50.firm should lower its output level in order to increase profits.
10.Which of the following isleast like/ya characteristic of perfect competition? 选项： A: The products produced within a given market are homogenous. B: The demand curve for an individual firm is a vertical line. C: The size of each firm is small relative to the size of the overall market.
11.Which of the following statements is not correct?选项： A: Monopolistic competition is similar to monopoly because in each market structure the firm can charge a price above marginal costs.; B:Monopolistic competition is similar to perfect competition because both market structures are characterized by free entry.; C: Monopolistic competition is similar to perfect competition because both market structures are characterized by many sellers.; D:Monopolistic competition is similar to oligopoly because both market structures are characterized by barriers to entry.
12.Which of the following is least likely a characteristic of an oligopoly? 选项： A: Each firm faces a downward sloping demand curve. B: The barriers to entry are high due to high capital requirements, patents, and government regulations. C: A few firms take higher shares of the market.
13.When entry occurs in a monopolistically competitive industry, 选项： A: the perceived demand and marginal revenue curves for each firm will shift to the right. B: the perceived demand and marginal revenue curves for each firm will shift to the left. C: the perceived demand curve for each firm will shift to the right. D: the marginal revenue curves for each firm will shift to the right.
14.According to the theory of the firm, which of the following statements describes an oligopoly? 选项： A:There are no barriers to entry into or exit from the market; B:There is only one producer in the market; C:There are four producers exerting considerable influence in the market; D:There are many producers but they each use product differentiation to distinguish themselves from each other
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16.Why does a firm in a competitive industry charge the market price? 选项： A、If a firm charges less than the market price, it loses potential revenue. B、If a firm charges more than the market price, it loses all its customers to other firms. C、The firm can sell as many units of output as it wants to at the market price. D、All of the above are correct.
17.Which of the following characteristics of competitive markets is necessary for firms to be price takers?选项： A:There are many sellers.; B:Firms can freely enter or exit the market.; C:Goods offered for sale are largely the same.; D:A firm would benefit from charging a price below the market price.
18.The amount of output that a firm decides to sell has no effect on the market price in a competitive industry because: 选项： A:the market price is determined (through regulation) by the government. B:the firm supplies a different good than its rivals. C:the firm's output is a small fraction of the entire industry's output. D:the short run market price is determined solely by the firm's technology. E:the demand curve for the industry's output is downward sloping.

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Which of the following is not a characteristic of a competitive market?选项： A:Buyers and sellers are price takers.; B:Each firm sells a virtually identical product.; C:Entry is limited; D:Each firm chooses an output level that maximizes profits.

Which of the following is not a characteristic of a competitive market?
选项：

A:Buyers and sellers are price takers.;
B:Each firm sells a virtually identical product.;
C:Entry is limited;
D:Each firm chooses an output level that maximizes profits.