Question

1. Which one of the above diagrams shows a

monopolistic competitor in short-run (but not long-run) equilibrium?

a. (1)

b. (2)

c. (3)

d. (5)

2. Which one of the above diagrams shows a monopolistic competitor in long-run equilibrium?

a. (1)

b. (2)

c. (3)

d. (4)

3. Which one of the above diagrams shows a competitive firm in long-run equilibrium?

a. (1)

b. (2)

c. (3)

d. (5)

4. Which one of the above diagrams is MOST likely to represent a monopolist other than a natural monopolist?

a. (1)

b. (3)

c. (4)

d. (5)

5. Which one of the above diagrams shows a competitive industry in long-run equilibrium?

a. (1)

b. (2)

c. (4)

d. (5)

6. Which one of the above diagrams shows a natural monopoly in long-run equilibrium?

a. (1) 

b. (2)

c. (3)

d. (4)