D when firms set the quantity to be sold if identical

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d. when firms set the quantity to be sold If identical firms sell an undifferentiated product, advertising is likely to be Select one: a. collectively undertaken by the industry group. b. used to attack the rivals' products. c. strategically aimed at deterring entry. d. focused on secret ingredients. Oligopolists that have restrictions on productive capacity divide the market between themselves and charge prices greater than marginal costs. In this case they engage in: Select one: a. Cournot competition. b. price competition. c. quality competition. d. Betrand competition.
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4/23/2018 Module 6: Homework Assignment 9/10 Question 17 Correct Marked out of 1.00 Question 18 Correct Marked out of 1.00 Question 19 Correct Marked out of 1.00 There are five firms in an industry with sales at $5 million, $10 million, $8 million, $12 million, and $10 million, respectively. What is the proper conclusion that we can draw from the calculated four-firm concentration ratio and HHI? Select one: a. Both measures indicate the industry is served by a monopoly b. Both measures indicate that the industry is not perfectly competitive. c. The four-firm measure suggests the industry is relatively uncompetitive, while the HHI suggests the industry is highly competitive d. The four-firm measure suggests the industry is highly competitive, while the HHI suggests the industry is relatively uncompetitive. Excess capacity and high advertising expenditures are encountered in Select one: a. monopoly b. non-profit competition c. perfect competition d. monopolistic competition In which markets are network effects likely? Select one: a. Markets subject to increasing returns b. Hi-tech product markets c. Market for trendy products. d. All of the above
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4/23/2018 Module 6: Homework Assignment 10/10 Question 20 Correct Marked out of 1.00 The reason that the Fisherman's Friend restaurant in Stonington, Maine had a monopoly on selling seafood dinners in that town is most likely due to Select one: a. no competitors apparently found the profit level attractive enough to enter the market. b. a government-imposed barrier. c. occupational licensing. d. the restaurant owned all the fresh seafood in the state. Return to: Module 6
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