(A) Different

(B) Uniform

(C)Very high

(D) Very low

(A) High

(B)Low

(C)Normal

(D)Constant

(A)

Monopoly

(B)

Perfect Competition

(C)

Oligopoly

(D)

Duopoly

(A) Perfect Competition

(B)Pure Competition

(C)Imperfect Competition

(D)Monopoly

(A) Price leadership is a form of tacit collusion

(B)With dominant price leadership the leader in an industry is the biggest firm

(C) With barometric price leadership the leader may change even if the relative size of each firm stays the same

(D) Price leadership breaks down if input prices or demand conditions change

(A) Short Period

(B)Long Period

(C)Very long Period

(D)International

(A) If the industry has constant costs

(B) If the industry has decreasing costs

(C) If the industry has increasing costs

(D)Never

(A) The firm will sell its product at the going market price

(B)The demand curve faced by the firm is downward sloping

(C)The demand curve faced by the firm is horizontal even though the market demand curve is downward sloping

(D)The firm would sell nothing if it set a higher price than the market price

(A) A situation where each player adopts their dominant strategy

(B)A situation where each player adopts the best strategy for them , given the strategy adopted by the other

(C)A situation where the combined pay offs of the players is the maximum possible

(D)The outcome that will arise in a game

(A) It faces a downward sloping demand curve

(B)It demand curve , and those for its competitor, may all be in different positions

(C)Its will produces at the output where it MR and SMC curves intersect, provided it would make either a profit or a loss that was less than its total fixed cost

(D)It supply curve is part of its marginal cost curve