In Which of the Following Market Models Do Demand and Marginal

question 12

Multiple Choice

In which of the following market models do demand and marginal revenue not diverge?

• A)pure competition
• B)monopolistic competition
• C)pure monopoly
• D)oligopoly

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Definitions:

Parsimonious

Referring to the principle in science and philosophy where the simplest explanation or strategy tends to be the right one.

Replicable

The ability of a study or experiment to be repeated and yield the same results.

Falsifiable

A criterion of the scientific method stating that for a proposition to be considered scientifically valid, it must be possible to conceive an observation that could prove the proposition false.

Psychoanalytic

Pertaining to a therapeutic and theoretical approach originated by Sigmund Freud that emphasizes unconscious motivations and conflicts in understanding human behavior.