There Are Two Types of Markets in Which Firms Face

question 346

Multiple Choice

There are two types of markets in which firms face some competition yet are still able to have some control over the prices of their products. Those two types of market are

• A)monopolistic competition and oligopoly.
• B)duopoly and triopoly.
• C)perfect competition and monopolistic competition.
• D)duopoly and imperfect competition.

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Definitions:

Transmitter

A device that sends signals, such as radio waves, from one location to another, typically used in communication systems.

Double-Declining-Balance

An accelerated depreciation method that doubles the rate at which an asset's book value is reduced compared to straight-line depreciation.

Scrap Value

A projection of the sale price for an asset at the point where it ceases to have utility.

Truck

A large motor vehicle designed for transporting goods by road.