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Ashford
Principles of microeconomics
week 4
ECO 204 Week 4 Quiz

ECO 204 Week 4 Quiz

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1. Question : All but which one of the following are true of monopolistic competition? 2. Question : At the point of long-run equilibrium for a perfectly competitive firm, 3. Question : The greater the price elasticity of the demand curve that the firm faces in monopolistic competition, 4. Question : Retail outlets operate in which of the following market structures? 5. Question : Which one of the following is NOT a basic assumption of the model of perfect competition? 6. Question : A firm in a(n) industry will have the most elastic demand curve. 7. Question : The marginal cost curve above the minimum average variable cost 8. Question : A firm in a monopolistically competitive industry faces a downward-sloping demand curve because 9. Question : Along a downward-sloping monopoly demand curve, 10. Question : Perfect competition is

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