Monopolistic competition

HideShow resource information
  • Created by: Jade
  • Created on: 01-12-12 12:41

1. Non-price competition is competition between firms on the basis, of, for example, branding, customer service, location, range of products, advertising are indicative of how firms seek to gain market share.

  • True
  • False
1 of 11

Other questions in this quiz

2. Firms in monopolistic competition are only going to make what profit in the long run?

  • Normal profit
  • Abnormal profit

3. Allocative efficiency is being achieved

  • False
  • True

4. Given the product differentiation, it should be clear that firms in monopolistic competition compete through ?

  • Non-price competition
  • Price competition

5. In monopolistic competition, the demand curve is ?

  • Relatively inelastic
  • Relatively elastic
  • Perfectly inelastic
  • Perfectly elastic

Comments

davidsalter

Report

Take a break from reading with a quick 10 question quiz on monopolistic competition. It may point out your learning needs.

Similar Economics resources:

See all Economics resources »See all Monopoly resources »