经济学原理应练习 14.docVIP

Chapter 14 Firms in Competitive Markets Multiple Choice 1. A market is competitive if (i) firms have the flexibility to price their own product. (ii) each buyer is small compared to the market. (iii) each seller is small compared to the market. a. (i) and (ii) only b. (i) and (iii) only c. (ii) and (iii) only d. All of the above are correct. ANS: C PTS: 1 DIF: 1 REF: 14-1 TOP: Competitive markets MSC: Definitional 2. When a firm has little ability to influence market prices it is said to be in a. a competitive market. b. a strategic market. c. a thin market. d. a power market. ANS: A PTS: 1