MCQOPTIONS
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| 1. |
Match the characteristics with their market structure:(a) Demand will tend to be inelastic.(b) Firm has control over quantity of output but it must take into account reactions of competitors |
| A. | (a) Pure Monopoly, (b) Oligopoly |
| B. | (a) Pure Monopoly, (b) Monopolistic Competition |
| C. | (a) Pure Competition, (b) Oligopoly |
| D. | (a) Monopolistic Competition, (b) Pure Competition |
| Answer» B. (a) Pure Monopoly, (b) Monopolistic Competition | |