1 Which of following is an example of a cartel?
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1
Which of following is an example of a cartel?
A.)automotive industry
B.)health care industry
C.)airline industry
D.)OPEC
2
Perfectly competitive market structures have an incentive to enter or exit the market in the long run
True
False
3
When firms set diffrent prices for the same goods or services this is an example of price DISCRIMINATION?
True
False
4
For substitute goods is the cross price elasticity is:
A.) A positive value
B.) equal to one
C.) a negative value
D.) not enough information is given
5
A perfectly competitive market structure faces:
A.) A price floor
B.) market shortage
C.) A price ceiling
D.) market surplus
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