ECO 204 Quiz...
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1.In San Francisco there are many retail clothing
stores. Each store is slightly different from every other store.
Retail clothing stores are an example of what market structure?
(Points : 1)
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2.Which one of the following is NOT a source of
market failure? (Points : 1)
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3.In a monopolistically competitive industry,
(Points : 1)
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4.The restaurant industry is an example of a(n)
________ industry. (Points : 1)
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5.Firms with market power must decide all of the
following EXCEPT (Points : 1)
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6.A ________ system is one in which all possible
trades that make some societal members better off without making
others worse off have been exhausted. (Points : 1)
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7.Tacit collusion (Points : 1)
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8.Imperfect competition (Points : 1)
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9.A monopolistically competitive firm that is
incurring a loss will shut down if (Points : 1)
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10.In a monopoly, the market demand curve is
(Points : 1)
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