Question: Question 9 Chapter 13- Requires Respondus LockDown Browser Question 1 (1 point) In an imperfectly competitive industry ( A) a single firm has no control

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9 Chapter 13- Requires Respondus LockDown Browser Question 1 (1 point) In an imperfectly competitive industry ( A) a single firm has no control over the price of its output. (B) a single firm has some control over the price of its output. OC) a single firm will charge whatever price it wants to charge. (D) the government will always regulate the output price. Question 2 (1 point) Which of the following is LEAST likely to be considered a firm in an imperfectly competitive industry? ( A) A Burger King in Pittsburgh, Pa. B) Ohio Bell Telephone Company OC) A wheat farmer in Kansas (D) The only locally owned and operated bank in Severn, Md. Question 3 (1 point) When substitutes exist, a monopolist has power to raise price. (A) more; more

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