Janus' Quiz Questions
1. What are the conditions of a perfectly competitive market? Why should you remember them? 2. What are the key differences between monopolistic and a perfectly competitive market? 3. Explain the four conditions of a monopolistic competitive market. Which are competitive and which monopolistic? 4. What is an oligopoly? Explain the cartel model and the contestable models. 5. Explain the theory of sticky prices in an oligopoly. 6. Using at least three case studies as examples, explain the evolution of anti-trust policy in America? 7. What did you about the behavioral concept of trust from the Ariely chapter?