Econ 201 econ201 week - Study guides, Class notes & Summaries
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT
- Exam (elaborations) • 10 pages • 2024
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Question 1 
Monopolistic competition is an industry characterized by a: 
• 
A. small number of firms producing identical products, with barriers to entry for firms. 
• 
B. small number of firms producing similar products, with relatively easy entry for firms. 
• 
C. large number of firms producing similar products, with relatively easy entry for firms. 
• 
D. large number of firms producing identical products, with relatively easy entry for 
firms. 
Answer Key:C 
Question 2 
Imperfect co...
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT
- Exam (elaborations) • 15 pages • 2023
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American Military University ECON 201 ECON201 WEEK 7 Quiz 
100% CORRECT
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American Military University ECON 201 ECON201 WEEK 7 Quiz 100% CORRECT
- Exam (elaborations) • 10 pages • 2023
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- $7.39
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Monopolistic competition is an industry characterized by a: 
 
 
 
• 
 
A.	small number of firms producing identical products, with barriers to entry for firms. 
 
 
• 
 
B.	small number of firms producing similar products, with relatively easy entry for firms. 
 
• 
 
C.	large number of firms producing similar products, with relatively easy entry for firms. 
 
 
• 
 
D.	large number of firms producing identical products, with relatively easy entry for firms. 
 
 ...
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American Military University > ECON201: Final Exam – 98%
- Exam (elaborations) • 8 pages • 2021
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ECON201: Final Exam – 98% 
Overall Grade (highest attempt): 157.5 / 160 - 98.44 % 
 
 
Question 1	5/5 
One defining characteristic of pure monopoly is that: The monopolist is a price taker 
 The monopolist uses advertising 
 
 
 
 There is relatively easy entry into the industry, but exit is difficult 
 
Question 2	5/5 
Which is a barrier to entry? 
 
 Close substitutes 
 
 Diseconomies of scale 
 
 
 
 ...
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American Military University ECON 201 ECON201
- Exam (elaborations) • 15 pages • 2023
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Too much month left at the end of the money?
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American Military University ECON 201 / ECON201 Week 7 Quiz
- Exam (elaborations) • 5 pages • 2022
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Question 1 
Monopolistic competition is an industry characterized by a: 
 
 
• 
 
A.	small number of firms producing identical products, with barriers to entry for firms. 
 
• 
 
B.	small number of firms producing similar products, with relatively easy entry for firms. 
 
•	 
 
C.	large number of firms producing similar products, with relatively easy entry for firms. 
 
• 
 
D.	large number of firms producing identical products, with relatively easy entry for firms. 
 
 
 
Answer Key:C Q...
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