1 Which of following is an example of a cartel?

1

Which of following is an example of a cartel?

A.)automotive industry

B.)health care industry

C.)airline industry

D.)OPEC

2

Perfectly competitive market structures have an incentive to enter or exit the market in the long run

True

False

3

When firms set diffrent prices for the same goods or services this is an example of price DISCRIMINATION?

True

False

4

For substitute goods is the cross price elasticity is:

A.) A positive value

B.) equal to one

C.) a negative value

D.) not enough information is given

5

A perfectly competitive market structure faces:

A.) A price floor

B.) market shortage

C.) A price ceiling

D.) market surplus