If an Industry Evolves from Monopolistic Competition to Oligopoly, We

question 152

Multiple Choice

If an industry evolves from monopolistic competition to oligopoly, we would expect

• A)the four-firm concentration ratio to decrease.
• B)the four-firm concentration ratio to increase.
• C)the four-firm concentration ratio to remain the same.
• D)barriers to entry to weaken.

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Definitions:

Cognitive Model

A theory in psychology that emphasizes the importance of internal thoughts and perceptions in determining behavior.

Abnormal Behavior

Patterns of emotion, thought, and action deemed pathological for one or more reasons, including discomfort, dysfunction, distress, or deviation from the norm.

Conscious Mental Processes

Thoughts, perceptions, and feelings of which an individual is aware at any given moment.

Biological Model

A perspective in psychology and medicine that attributes psychological disorders and behaviors to biological factors, such as genetic inheritance, brain chemistry, and anatomy.