Question

I need some help with a few problems. I did some of them and i need to see if they are correct and then some of them i don't know...

The level of competition least beneficial to business owners is

oligopoly. I chose this one.

monopoly.

pure competition.

monopolistic competition.
______
An example of horizontal consolidation is when a bank

acquires a company that produces vaults.

purchases a share of the U.S. Treasury.

divides into two new banks.

combines with another bank. I chose this one
_______
Monopolistic competition is a market structure that has

few competitive firms with the same products.

many sellers with differentiated products.

a perfectly elastic demand curve.

one seller.
_______
The level of competition most beneficial to consumers is

oligopoly.

monopoly.

pure competition. I chose this one

monopolistic competition.
_______
In a specific industry, two dominant firms work together to set prices. We call this

competition.

collusion.

market dominance.

market influence.
_______
A firm’s purpose in nonprice competition is to

produce at the lowest cost possible.

encourage other firms to cooperate in setting prices.

establish extensive control of their particular market.

distinguish their products from those of other companies.

Answer 1

For the first, I'd go with pure competition, as prices will be lower, since everyone wants to produce or sell the product you are selling.

For the third it's few competitive firms with the same products. (that's what monopolistic competition is)

You're right with the 4th.

I can't say for the others... Try and find them out.

Answer 2

for the last question, the answer is D: distinguish their products from those of other companies