Question 3 (1 point) What kind of competition is generally described as price competition? Cournot competition Stackleberg competition O Chamberlin competition Bertrand competition Question 4 (1 point) A market has a measured Herfindahl index of 0.30. Accordingly, the market structure that best describes competition in this market is Monopolistic competition Perfect competition Monopoly O Oligopoly Question 5 (1 point) Which of the following characteristics does not drive prices toward marginal costs in perfect competition!" Many sellers Excess capacity The product is viewed as homogeneous by consumers. The price of an input used to produce the product declines