Micro Unit 4 Intro- Imperfect Competition AP Economics

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Business
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11th Grade - University
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Hard
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5 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the concept of price discrimination in the context of monopolies.
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What are the characteristics of a monopoly?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
How does the demand curve differ for monopolies compared to perfect competition?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
What happens to marginal revenue when a monopoly lowers its price?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe the relationship between demand and marginal revenue for price makers.
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