(A) They include monopolistic competitors and monopolists

(B)They can always raise their prices and still retain some customers

(C)They may set different prices in the short run and in the long run

(D) We do not analyse them using diagrams with supply and demand curve

(A) There might be inefficiency in production

(B)There might be inefficiency in consumption

(C) It might be possible to make one person better off without making another person worse off

(D)There might be considerable inequality of income among the country's citizens

(A) Short Period

(B)Long Period

(C) Very long Period

(D)International

(A) Inelastic

(B)Elastic

(C)Perfectly Elastic

(D) Perfectly Inelastic

(A) It means that a market economy will fail to secure economic efficiency

(B)It means that a market economy will fail to secure Pareto - efficiency

(C)It means that a market economy will fail to secure productive efficiency

(D)It means that a market economy will fail to secure technical efficiency

(A) The market supply curve represents the individual supply curves of all firms which produce the product added together

(B) The market supply curve may shift if there is a change in the behaviour of some firms which produce the product

(C)The market supply curve may shift if there is change in the price of the product

(D) The market supply curve may shift if there is a change in the number of firms which supply the product

(A) Perfect Competition

(B)Pure Competition

(C)Imperfect Competition

(D)Monopoly

(A) If the industry has constant costs

(B) If the industry has decreasing costs

(C)If the industry has increasing costs

(D)Never

(A) High

(B)Low

(C) Normal

(D)Constant

(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