Match the characteristics with their market structure:(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.

Question

TuteeHUB · Accepted Answer

(a) Pure competition, (b) Pure Monopoly

TuteeHUB · Answer

(a) Oligopoly, (b) Pure Monopoly

TuteeHUB · Answer

(a) Monopolistic competition, (b) Pure Monopoly

TuteeHUB · Answer

(a) Monopolistic competition, (b) Oligopoly

1.	Match the characteristics with their market structure:(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.	(a) Oligopoly, (b) Pure Monopoly
B.	(a) Monopolistic competition, (b) Pure Monopoly
C.	(a) Pure competition, (b) Pure Monopoly
D.	(a) Monopolistic competition, (b) Oligopoly
Answer» C. (a) Pure competition, (b) Pure Monopoly

Match the characteristics with their market structure:(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.

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