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One single product and lots of control over prices are characteristics of firms in what market structure?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
Sunshine Island has 3 large supermarkets that supply most of the groceries for the island’s population. A gas station also sells a very small selection of groceries. How would you describe the market for groceries on Seaside Island?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
Sharon decided to open a dry-cleaning business. She borrowed some money from her sister and took a loan from a bank. She hired one helper. What is one disadvantage of Sharon’s business?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
What is monopolistic competition?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
Which of the following is true about a shareholder in a corporation?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
How much control over price do companies in a perfectly competitive market have?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
Interdependence and price leadership are characteristics of firms in what kind of market structure?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
In which market structure does a firm have greatest control over its product’s price?
none
monopoly
oligopoly
many companies selling similar but not identical products
oligopoly
unlimited liability
monopoly
A shareholder is part owner of that business.
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