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5 Written questions

5 Multiple choice questions

  1. multiple firms make the same pricing decisions even though they have not explicitly consulted with one another
  2. refers to the physical characteristics of the market within which firms interact
  3. an industry classification that categorizes industries by type of economic activity and groups firms with like production processes
  4. a market structure in which one firm makes up the entire market
  5. a model of oligopoly in which barriers to entry and barriers to exit, not the structure of the market, determine a firm's price and output decisions

4 True/False questions

  1. price-discriminationto charge different prices to different individuals or groups of individuals

          

  2. strategic decision makingto charge different prices to different individuals or groups of individuals

          

  3. Herfindahl Indexa market structure in which one firm makes up the entire market

          

  4. concentration ratioto charge different prices to different individuals or groups of individuals

          

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