Please help me with these questions

Answer the following 10 questions:

1. Firms in a monopolistically competitive market structure maximize their profit by producing an

output where:

a. Price equals average total cost.

b. Marginal cost equals average total cost.

c. Marginal cost equals price.

d. Marginal revenue equals marginal cost.

2. Which of the following is always associated with monopolistic competition?

a. Identical products

b. Economic profits in the short run

c. MR lies above the demand curve

d. Demand curves become more inelastic as new entry occurs

e. Product differentiation.

3. If a firm reacts to other firms' market decisions by anticipating how the other will then react, this is:

a. Not profit-maximizing behavior

b. A monopolistic competitive market

c. A market with a low concentration ratio

d. Mutual interdependence

e. Collusion by definition

4. In a price leadership oligopoly model,

a. A cartel of leading firms determines price and industry output.

b. The industry in association with the government determines price and output.

c. One firm is the price leader and all other firms follow.

d. The firms abandon a profit-maximizing goal.

5. Officers of five large building-materials companies meet and agree that none of them will submit

bids on government contracts lower than an agreed-upon level. This is an example of:

a. An interlocking directorate

b. Vertical restriction.

c. A tying contract.

d. Price fixing.

6. The primary purpose of antitrust legislation is to:

a. Protect small business.

b. Ensure firms earn only a fair profit.

c. Protect the prices of American-made products.

d. Ensure American labor is paid a fair wage.

e. Protect the competitiveness of U.S. business.

7. Campbell Soup agrees to sell its brand to a grocery chain only if the chain also agrees to buy a

minimum number of cases of its V-8 juice. This is an example of:

a. A resale price maintenance agreement.

b. A tying agreement.

c. Exclusive dealing.

d. Price discrimination.

8. The per se rule was an antitrust law guideline that emphasized ____ over ____.

a. Price; quantity

b. Quantity; price

c. Law; the economy

d. Size; behavior

e. Behavior; size

9. Which of the following is not a type of merger?

a. b and e.

b. Diversified merger.

c. Horizontal merger.

d. Vertical merger.

e. Conglomerate merger.

10. Interlocking directorates are illegal only when their effect is to lessen

competition substantially.

a. True

b. False