Please solve this as soon as possible. No cursive. Clear answers.

AWN T/F Government-created monopoly can come from the existence of patent and copyright laws. T/F Collusion is possible with an Oligopoly? T/F Monopolistic competitive firm can increase demand for product by having a advertising campaign. T/F The profit-maximizing point can be found when marginal revenue is equal to marginal cost. 5 . T/F A competitive firm is a firm in a market in which: (1) there are many buyers and many sellers in the market; (2) the goods offered by the various sellers are largely the same; and (3) usually firms can freely enter or exit the market. 6. T/F Monopolies can produce less than desirable demand, and charge a higher price. 7 . T/F A Monopoly can earn a profit in both the short-run and long-run? Multiple Choice (2 points each): 1. Which market structures offers a standardized product a. Monopoly and Oligopoly. b. Perfect Competition and Oligopoly. c. Perfect Competition and Monopoly. d. None of the above. 2. A Perfectly competitive firm_ a. Chooses its price to maximize profits. b. Sets its price to undercut other firms selling similar products. c. Takes its price as given by market conditions d. Picks the price that yields the largest market share. 3. Which of the following is an example of Monopolistic Competition? a. Hardware stores b. Bookstores c. Drugstores d. All of the above. 4. Which one is not a characteristic of Monopolistic Competition? a. Product differentiation exists among firms b. There are a small number of firms in the product group c. Entry and exit by new firms is relatively easy. d. Low to High market power. e. All of them are characteristics of Monopolistic competition 5. Firms that exercise market power through product differentiation or by being dominant players in their markets are called_ a. Price takers. b. Price leaders c. Price makers d. None of the above. 6. Which one of the following is a not a classification for Oligopoly: a. Low to high market power b. Small number of large firms c. Market entry and exit difficult d. All the above