Micro-Economics

microeconomicsquiz.docx

In Monopolistic Competition there is only one seller for a specific good.

Question 1 options:

	True
	False

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Question 2 (1 point)

In pure competition you can sell all you want at the specified price.

Question 2 options:

	True
	False

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Question 3 (1 point)

: In Oligopoly, there are many sellers all selling the same good at the same price.

Question 3 options:

	True
	False

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Question 4 (1 point)

: In monopoly, you can sell all you would like at the market price.

Question 4 options:

	True
	False

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Question 5 (1 point)

Collusion is an agreement among sellers about quantities to produce or prices to charge.

Question 5 options:

	True
	False