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5 Written Questions

5 Multiple Choice Questions

  1. an index of market concentration calculated by adding the squared value of the individual market shares of the firms in the industry
  2. taking explicit account of a rival's expected response to a decision you are making
  3. the value of sales by the top firms of an industry states as a percentage of total industry sales
  4. refers to the physical characteristics of the market within which firms interact
  5. a market structure in which one firm makes up the entire market

4 True/False Questions

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

          

  2. patenta market structure in which one firm makes up the entire market

          

  3. contestable market modela 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. monopolistic competitionmultiple firms make the same pricing decisions even though they have not explicitly consulted with one another

          

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