1) Consider the four market structures. In which market structure are there many firms producing differentiated goods?

Perfect Competition

Monopolistic Competition

Oligopoly

Monopoly

2) Consider the four market structures:

(1). Perfect competition

(2). Monopolistic competition

(3). Oligopoly

(4). Monopoly

In which market structure(s) will we see firms that are generally not considered competitive and may have a large amount of market power to set their own prices?

(1) only

(1) and (2)

(4) only

(3) and (4)

(2) and (3)

3) Consider the four market structures:

(1). Perfect competition

(2). Monopolistic competition

(3). Oligopoly

(4). Monopoly

Entry barriers are seen in which market structure(s)?

(1) only

(1) and (2)

(4) only

(3) and (4)

(2) and (3)

Question 5: A manufacturer produces bolts that are specified to be between 1.19 and 1.21 inches in diameter. If its production process results in a bolt's diameter being normally distributed with mean 1.20 inches and standard deviation 0.004, what proportion of bolts will not meet specifications?QUESTION 2 Find the best match for each. There may be repeats or responses that match to nothing. A symmetric continuous distribution with a mean equal to its mean and to its mode where the standard deviation is less than 1/2. A. Normal distribution X is continuous and defined for X>0, the density of X decreases monotonically, and E[X] = Var(X). B. Exponential Distribution X is a continuous random variable on (5,25) and Prob(X>x X>15) = (x-15)/10 for 15