MCQOPTIONS
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| 1. |
Match the characteristics with their market structure:_x005F_x000D_ (a) Differentiated products, but close substitutes for consumers so their demand curves are elastic.(b) Firm will tend to set output so that it earns maximum profits. |
| A. | ('Pure competition, (b) Pure Monopoly |
| B. | (a) Monopolistic competition, ('Oligopoly |
| C. | (a) Oligopoly, (b) Pure Monopoly |
| D. | (a) Monopolistic competition, (b) Pure Monopoly |
| Answer» E. | |