(A) Firms in these industries may attempt to cooperate

(B)The fact that there is more than one firm in an monopoly means that there are no barriers to entry

(C)The fact that there is more than one firm in an oligopoly means that there are no barriers to entry

(D)An oligopoly with two firms is called a duopoly

(A) Very short Period

(B)Short Period

(C)Long Period

(D)Very long Period

(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) 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) High

(B)Low

(C) Normal

(D)Constant

(A) Perfect Competition

(B)Monopoly

(C) Duopoly

(D)Oligopoly

(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