Question 3 1 Point Price discrimination occurs where A firm charges a high price to all consumers when the product is new Firms charge different prices in different markets for the same product Some consumers are priced out of the market Imperfect knowledge causes consumers to pay more for a good than is necessary Oligopolistic frims collude to keep prices high Question 4 1 Point Which of the following market structures is most likely to see the most advertising? A oligopoly B Perfect competition Monopoly Collusion E Monopolistic competition Question 9 1 Point A firm operating under monopolistic competition is likely to have A High entry barriers An identical product to other firms in the industry A perfectly elastic demand curve No control over pricing A differentiated product