These questions are from Lesson 7, Structure (perfect competition)!!!! Short explanation also!

5) The market structure that is most different from the model of perfect competition is: A) monopolistic competition. B) monopsony ") oligopoly. D) monopoly. Answer: 6) Consumers don't care which supplier they buy from in a perfectly competitive market because: A) the outputs of the firms in a perfectly competitive market are all the same. B) the consumers have no choice regarding who they buy from. C) price is always low enough that the choice of supplier doesn't matter. D) all of the above. Answer: 7) The manager of a perfectly competitive firm has to decide: A) the quantity of output the firm should produce. B) the price the firm should charge for its output. C) the quantity of output the firm should produce and the price it should charge. D) neither the quantity of output the firm should produce nor the price it should charge because the market makes both of these decisions. Answer: 8) The demand curve faced by the individual perfectly competitive firm is: A) downward sloping. B) upward sloping. C) horizontal. D) vertical. Answer Page