Hello Tutor! Could you share with me the right answer for the following:

1.an oligopoly:

a. sells only a differentiatedproduct

b.must consider how competitors are pricingtheir products when deciding what price to charge

c. is the only seller of a product

d. is market structure consisting of thousand of sellers

e.none of the above

2.Which of the following firms will maximize profits (or minimize losses) where marginal revenue equals marginal costs?

a. a monopoly

b. a perfectly competitive firm

c. an oligopoly

d. a monopolistically competitive firm

e. all of the above

3.Which of the ff is a price taker?

a. monopoly

b.an oligopoly

c. a monopolistically competitive firm

d. a perfect competitive firm

e. all of the above

4. Which of the following is characterizedby price independence

a. a monopoly

b. an oligopoly

c. a monopolistically competitive firm

d. a perfect competitive firm

e. all of the above

5. Which of the following firms faces a perfectlyelastic demand curve?

a. a perfectly competitive firm

b. a monopolasticallycompetitive firm

c. a oligopoly

d. a monopoly

e. all of the above

6. The general rule when a perfectly competitive firm should shut down in the short run is when the price is

a. below minimum of average variable costs

b. below the minimum of average total costs

c. below the minimum of average fixed costs

d. above the average variable cost but below the average total cost

e. none of the above

7. a cartel is

a. explicit collusion

b. implicit collusion

c. a vertical merger

d. a horizontal merger

e. a and b

8. a oligopoly may price its product

a. as would a monopoly

b. as a price leader if it is a big producer

c. at the kink in its demand curve

d. all of the above

e. none of the above

9. The automobile industry will be described by the economists as

a. monopoly

b. an oligopoly

c. a purely competitive industry

d. a monopolistically competitive industry

e. a horizontal merger

10 in order to have the consumer pay for the last unit just what it cost to produce the alst unit

a. price should equal average cost

b. average cost must be at minimum

c. marginal cost should equal price

d. marginal revenue should equal price