ECON HW 4 example #23123

Monopolistic competition is characterized by a:

A monopolistically competitive firm's marginal revenue curve:

In short-run equilibrium, the price charged by the monopolistically competitive firm:

In long-run equilibrium, the price charged by the monopolistically competitive firm:

The monopolistically competitive seller maximizes profit by producing at the point where:

In long-run equilibrium a monopolistically competitive firm will:

Monopolistically competitive industries are inefficient because:

The economic inefficiencies of monopolistic competition may be offset by the fact that:

Oligopolistic industries are characterized by:

Oligopoly is difficult to analyze primarily because:

Game theory:

Suppose an oligopolistic producer assumes its rivals will ignore a price increase but match a price cut. In this case the firm perceives its:

If an oligopoly is faced with a kinked-demand curve that is relatively elastic above, and relatively inelastic below, the going price, then it will:

The kinked-demand curve model helps to explain price rigidity because:

Oligopolistic firms engage in collusion to:

Advertising can enhance economic efficiency when it:

Advertising can impede economic efficiency when it:

Pure monopoly means:

Which of the following is a characteristic of pure monopoly?

A natural monopoly occurs when:

A nondiscriminating pure monopolist's demand curve:

The marginal revenue curve for a monopolist:

Because the monopolist's demand curve is downsloping:

When total revenue is increasing: