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Which of the following market structures describe an industry in which a group of firms formally agree to control the prices and output of a product?

A) Perfect competition

B) Monopoly

C) Oligopoly

D) Cartel

E) Monopolistic competition

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Joshua Stredder
Joshua StredderLv10
23 Oct 2020

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Related questions

In which of the following market structures can firms be price makers?
 
a. monopoly, monopolistic competition, and oligopoly.
 
b. perfect competition, monopolistic competition, and oligopoly.
 
c. monopoly, perfect competition, and oligopoly.
 
d. monopoly, monopolistic competition, and perfect competition.
 

In which of the following market structures can firms be price makers?

a. monopoly, monopolistic competition, and oligopoly

b. perfect competition, monopolistic competitions, and oligopoly

c. monopoly, perfect competition, and oligopoly

d. monopoly, monopolistic competition, and perfect competition 

1. Which market structure is characterized by a few interdependent firms?

A) Monopoly.

B) Perfect competition.

C) Monopolist competition.

D) Oligopoly.

 

2. The correct ranking (put in order) of the degree of market power (from highest to lowest) is

A) Monopoly, monopolistic competition, perfect competition, oligopoly

B) Monopoly, monopolistic competition, oligopoly, perfect competition.

C) Monopoly, oligopoly, monopolistic competition, perfect competition.

D) Oligopoly, monopoly, monopolistic competition, perfect competition.

 

3. The term monopolistic competition

A) is an alternate expression for monopoly

B) is used to describe perfect competition with strong entry barriers.

C) denotes an industry with one seller of many differentiated products

D) denotes an industry with many sellers of differentiated products.

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