2. The purification was done mostly at
_____________.
ANS: HOME
3. A type of market structure that has less
market power, price takers, free entry and
exit and perfect Information.
ANS: PERFECTLY COMPETITIVE MARKET
4. A type of market structure that have many
firm, free entry and exit, and differentiated
but highly substitutable product
ANS: MONOPOLISTIC COMPETITION
5. A type of market structure that has a
market power, a single seller, a one
product (limited or no good
substitutes) and barriers to entry.
ANS: MONOPOLY
6. A type of market structure that
has small number of firms, a
product differentiation may or
may not exist and barriers to entry
ANS: OLIGOPOLY
7. .In Oligopoly, there are two barriers to
entry, there are:
ANS: NATURAL & STRATEGIC ACTION