Econ201 final exam - Study guides, Class notes & Summaries

ECON201 Final Exam

Question 1 of 29 5.0/ 5.0 Points One defining characteristic of pure monopoly is that: • A. The monopolist is a price taker • B. The monopolist uses advertising • C. The monopolist produces a product with no close substitutes • D. There is relatively easy entry into the industry, but exit is difficult Answer Key: C Question 2 of 29 5.0/ 5.0 Points Which is a barrier to entry? • A. Close substitutes • B. Diseconomies of scale ...

ECON201 Final Exam

American Military University ECON 201 ECON201 FINAL EXAM

American Military University ECON 201 ECON201 FINAL EXAM

American Military University ECON 201 ECON201 FINAL EXAM

Question 1 of 29 One defining characteristic of pure monopoly is that: • A. The monopolist is a price taker • B. The monopolist uses advertising • C. The monopolist produces a product with no close substitutes • D. There is relatively easy entry into the industry, but exit is difficult Question 2 of 29 Which is a barrier to entry? • A. Close substitutes • B. Diseconomies of scale • C. Government licensing • D. ...

American Military University ECON 201 ECON201 FINAL EXAM Question 1 of 29 One defining characteristic of pure monopoly is that: • A. The monopolist is a price taker • B. The monopolist uses advertising • C. The monopolist produces a product with no close substitutes • D. There is relatively easy entry into the industry, but exit is difficult Question 2 of 29 Which is a barrier to entry? • A. Close substitutes • B. Diseconomies of scale • C. Government licensing ...