C6: Market Structures Monopolistic & Oligopoly_UTMspace

Which market structure best describes the competition between Mixue and Aicha in the bubble tea industry?

• Monopoly

• Perfect competition

• Monopolistic competition

• Oligopoly

ZUS Coffee and Luckin Coffee compete by offering unique drinks and branding. What type of competition is this?

• Price competition

• Non-price competition

• Monopoly

• Oligopoly

In monopolistic competition, products are:

• Identical

• Differentiated but close substitutes

• Unique with no substitutes

• Homogeneous

What is the main goal of firms in all market structures?

• To reduce competition

• To maximize profit

• To increase employment

• To expand globally

Which market structure has few sellers but large market share?

• Monopoly

• Perfect competition

• Monopolistic competition

• Oligopoly

Uncle Roger’s instant noodle brand faces few competitors and controls pricing. What market structure is this?

• Monopoly

• Oligopoly

• Monopolistic competition

• Perfect competition

In monopolistic competition, firms compete using:

• Only price

• Only quality

• Non-price strategies like branding and advertising

• Government subsidies

Which of the following is a barrier to entry in oligopoly markets?

• Free advertising

• Patent and copyright

• Low startup cost

• High competition

Taylor Swift concert tickets are priced differently based on seating. This is an example of:

• First-degree price discrimination

• Second-degree price discrimination

• Third-degree price discrimination

• No discrimination

In oligopoly, firms often follow the pricing of a leading brand. This is called:

• Cartel

• Price rigidity

• Price leadership

• Price discrimination