Stop on the market structure

Exercise and reference answers

Questions

1. Answer

   Perfect competition

   Question

   One end of the spectrum, many identical sellers.

2. Answer

   Monopolistic comp.

   Question

   Many sellers, but differentiated products.

3. Answer

   Oligopoly

   Question

   A few firms, each watching the others.

4. Answer

   Monopoly

   Question

   The other end of the spectrum, a single seller.

Choices

1. Perfect competition
2. Monopolistic comp.
3. Oligopoly
4. Monopoly

Instructions

Tap once to start the sweep, then tap again to stop it on the right structure.

Explanation