Considering the Spectrum of Market Structures and Moving from Pure

question 150

Multiple Choice

Considering the spectrum of market structures and moving from pure competition to pure monopoly we can say that

• A) entry barriers get lower but exit gets more difficult.
• B) entry becomes harder but exit becomes easier.
• C) entry gets harder and the number of firms dwindles.
• D) none of the above.

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Definitions:

Millimeters

A metric unit of length equal to one thousandth of a meter, often used in measuring small objects.

Centimeter

A metric system unit of length, totaling one hundredth or 0.01 of a meter.

Weight

The force exerted by gravity on an object, proportional to its mass.

Liters

A metric unit of volume equal to 1,000 cubic centimeters or approximately 0.264 gallons.