1. Which of the following types of market structures is a price taker?

A) perfect competition
B) cartel.
C) oligopoly.
D) monopolistic competition.
E) monopoly.

2. Which two types of market structures have easy entry and easy exit?

i) perfect competition
ii) monopolistic competition
iii) oligopoly
iv) cartel
v) monopoly

A) i) and ii) only
B) i) and iii) only
C) ii) and iii) only
D) ii) and iv) only
E) iii) and iv) only

3. The reason for difficult entry into some of the market structures is:

A) too many buyers.
B) too many sellers.
C) barriers to entry.
D) too low of a price.
E) too little output.