C5: Market Structures PCM & Monopoly_UTMspace

Which market structure best describes the rivalry between ZUS Coffee and Luckin Coffee in Malaysia?

• Monopoly

• Perfect competition

• Monopolistic competition

• Oligopoly

Mixue and Aicha compete in the bubble tea market by offering unique flavors and branding. What type of competition is this?

• Price competition

• Non-price competition

• Monopoly

• Perfect competition

Aina Abdul launches a perfume line with exclusive rights. What barrier to entry does this represent?

• Control over raw materials

• Patent and copyright

• Government franchise

• High startup cost

In perfect competition, firms are considered:

• Price makers

• Price takers

• Market leaders

• Cost controllers

Which market structure best describes local thrift and bundle stores in Melaka?

• Monopoly

• Oligopoly

• Monopolistic competition

• Perfect competition

What is the main goal of a firm in any market structure?

• To increase employment

• To maximize profit

• To reduce competition

• To expand globally

In monopoly, the demand curve is:

• Horizontal

• Perfectly elastic

• Downward sloping

• Vertical

Which Malaysian company is a good example of a monopoly?

• Mixue

• Tenaga Nasional Berhad (TNB)

• ZUS Coffee

• Shopee

What happens at the shut-down point in perfect competition?

• TR = TC

• AVC = AR

• MR = MC

• AC = AR

A firm earns supernormal profit when:

• TR > TC

• AVC > AR