【国际经济学专题考试试卷十六】Monopolistic Competition
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Chapter 16
Monopolistic Competition
TRUE/FALSE
1. The "competition" in monopolistically competitive markets is most likely a result of having many sellers in the
market.
ANS: T DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Interpretive
2. The "monopoly" in monopolistically competitive markets is most likely a result of firms having some pricing
power due to product differentiation.
ANS: T DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Interpretive
3. Monopolistic competition is characterized by many buyers and sellers, product differentiation, and free entry. ANS: T DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Definitional
4. Monopolistic competition is characterized by many buyers and sellers, product differentiation, and barriers to
entry.
ANS: F DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Definitional
5. A monopolistically competitive market is characterized by barriers to entry.
ANS: F DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Interpretive
6. Monopolistic competition is the only market structure that features many sellers.
ANS: F DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Markets MSC: Interpretive
7. Product differentiation always leads to some measure of market power.
ANS: T DIF: 2 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Demand curve
MSC: Interpretive
8. Oligopoly is characterized by a few sellers offering similar products, whereas monopolistic competition is
characterized by many sellers offering differentiated products.
ANS: T DIF: 2 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Definitional
9. Monopolistic competition is characterized by a few sellers offering similar products, whereas oligopoly is
characterized by many sellers offering differentiated products.
ANS: F DIF: 2 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Definitional
10. Oligopoly and monopolistic competition are examples of a market structure called imperfect competition. ANS: T DIF: 1 REF: 16-1 NAT: Analytic
LOC: Monopolistic competition TOP: Monopolistic competition
MSC: Definitional
1078