Question

Match the characteristics with their market structure:
(a) Firm has control over quantity of output but it must take into account reactions of competitors.
b) Firm will tend to set output so that it earns maximum profits.
A) (a) Oligopoly, (b) Pure competition B) (a) Monopolistic competition, (b) Oligopoly C) (a) Pure Monopoly, (b) Pure competition D) (a) Oligopoly, (b) Pure Monopoly

Answer 1

Answer:

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Answer 2

Answer:

A) (a) Oligopoly, (b) Pure competition

B) (a) Monopolistic competition, (b) Oligopoly

C) (a) Pure Monopoly, (b) Pure competition

D) (a) Oligopoly, (b) Pure Monopoly

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