1. Indicate whether the supply or Demand curve would shift to the right, shift to the left or movement along the demand/supply curve under each of the following instances. Fly West Air has announced that the ticket price from Windhoek to Walvis Bay will increase from N$1500.00 to N$2000.00 per trip. What would be the effect on the supply curve. 2. Firms in a monopolistic market are price _______: Select one: a. Makers b. Givers c. Takers d. Acceptors 3. One difference between perfect competition and monopolistic competition is that: Select one: a. Firms in monopolistic competition have some degree of market power. b. Monopolistic competition has barriers to entry, whereas perfect competition has none. c. There are a smaller number of firms in perfectly competitive industries. d. In perfect competition, the products are slightly differentiated between firms
1. Indicate whether the supply or
Fly West Air has announced that the ticket price from Windhoek to Walvis Bay will increase from N$1500.00 to N$2000.00 per trip. What would be the effect on the supply curve.
2.
Firms in a monopolistic market are price _______:
Makers
Givers
Takers
Acceptors
3.
One difference between perfect competition and
Firms in monopolistic competition have some degree of market power.
Monopolistic competition has barriers to entry, whereas perfect competition has none.
There are a smaller number of firms in
In perfect competition, the products are slightly differentiated between firms
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