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5 Written questions

5 Multiple choice questions

  1. to charge different prices to different individuals or groups of individuals
  2. a market structure in which there are many firms selling differentiated products and few barriers to entry
  3. legal protection of a technical innovation that gives the person holding it sole right to use that innovation
  4. the value of sales by the top firms of an industry states as a percentage of total industry sales
  5. a model that assumes that oligopolies act as if they were monopolists that have assigned output quotas to individual member firms of the oligopoly so that total output is consistent with joint profit maximization

4 True/False questions

  1. Herfindahl Indexlegal protection of a technical innovation that gives the person holding it sole right to use that innovation

          

  2. North American Industry Classification System (NAICS)an industry classification that categorizes industries by type of economic activity and groups firms with like production processes

          

  3. natural monopolya market structure in which one firm makes up the entire market

          

  4. market structurerefers to the physical characteristics of the market within which firms interact

          

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