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5 Written questions

5 Multiple choice questions

  1. a market structure in which there are many firms selling differentiated products and few barriers to entry
  2. a market structure in which there are only a few firms and firms explicitly take other firms' likely response into account
  3. a market structure in which one firm makes up the entire market
  4. refers to the physical characteristics of the market within which firms interact
  5. taking explicit account of a rival's expected response to a decision you are making

4 True/False questions

  1. Herfindahl Indexa market structure in which there are only a few firms and firms explicitly take other firms' likely response into account

          

  2. contestable market modelthe value of sales by the top firms of an industry states as a percentage of total industry sales

          

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

          

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

          

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