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C. firms act strategically<br />
D. all of the above<br />
Question 16 of<br />
2.5/ 2.5 Points<br />
40<br />
In which of the following market structures do you find many sellers?<br />
A. monopoly<br />
B. perfect competition<br />
C. monopolistic competition<br />
D. monopolistic competition and perfect<br />
competition<br />
Question 17 of<br />
2.5/ 2.5 Points<br />
40<br />
Which of the following is a characteristic of a perfectly competitive market?<br />
A. a large number of firms in a<br />
market<br />
B. selling a standardized product<br />
C. no barriers to entry<br />
D. all of the above<br />
Question 18 of<br />
2.5/ 2.5 Points<br />
40<br />
Which of the following is NOT a characteristic of a monopoly?<br />
A. There is only one seller.
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