Annual design and model changes are a form of non-price competition.A. TrueB. FalseTrue False
  • ...
  • Pure competition.
  • a recognised interdependence exists between firms in one industry, but not in the other.
  • Oligopoly.
Monopolistically competitive firms exist due to high 'barriers to entry'.A. TrueB. False
  • Oligopoly.
  • ...
  • a recognised interdependence exists between firms in one industry, but not in the other.
  • neither industry has significant barriers to entry.
If technological advance necessitates the existence of a few large producers that can achieve efficient lowcost production, this will push market structures towards monopolistic competition.A. TrueB. False
  • Pure competition.
  • Pure monopoly.
  • ...
  • Oligopoly.
Patents and licences are 'barriers to entry'.A. TrueB. False
  • Pure monopoly.
  • ...
  • Price taker.
  • Pure competition.
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