Word Bank: Dominant, Increase, More, Differentiated, High, Concentration, Easier, Same, Equals, Negatively

A horizontal merger occurs when a smaller and larger rm within the industry merge. [Choose] v Question 2 Market is the degree to which a market is dominated by one or a few large rms. [ Choose ] v Question 3 Economies of scale and barriers to entry contribute to market concentration. [Choose] 9 Question 4 Oligopolistic interdependence or collusion occurs when rms realize that they can jointly their prots. Coordination and decision making is in a market with only two or three large rms of roughly equal size than in a market in which a dozen equal-sized rms control half the market. [ Choose] v Question 6 0.5 pts A situation in which a(n) rm in an oligopoly sets a price to be matched by other rms in the market is known as price leadership. [ Choose] v Question 7 0.5 pts With a(n) product, entry and exit becomes relatively easy for a monopolistically competitive rm. [ Choose] v Question 8 0.5 pts Under monopolistic competition, each rm is a price searcher with alnl sloped demand curve. [ Choose ] v Question 9 0.5 pts As new rms enter the monopolistic competition market, the demand curves of existing rms shift to the left and may become elastic. [Choose ] v Question 10 0.5 pts In the long mn for monopolistic competition. equilibrium price average total cost for the rm. [ Choose ] v