(There may be more than one correct answer.)

1.Which market structure(s) make(s) economic profit in the short run?

a. Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

2.Which market structure(s) make(s) economic profit in the long run?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

3.Which market structure(s) generally result(s) in the lowest price being offered to the consumer?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

4.Which market structure(s) allow(s) the maker to not have to watch their costs as much?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

5.Which market structure(s) have barriers to entry?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

6.Which market structure(s) do not have barriers to entry?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

7.Which market structure(s) uses branding to a make their product more desirable than a competitor?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

8.Which market structure(s) are price makers?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

9.Which market structure(s) has a few firms and many buyers?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

10.Which market structure(s) can run afoul of anti-trust laws?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

11.Which market structure(s) produce(s) a quantity where the marginal cost curve intersects the marginal revenue curve?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

12.Which market structure(s) consist(s) of only one firm?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

13.Which market structure(s) use(s) game theory?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic

14.Which market structure(s) has a downward sloping average revenue curve?

a.Perfectly competitive

b.Monopoly

c.MonopolisticCompetition

d.Oligopolistic