AP Microeconomics Practice Test: Imperfect Competition: Monopolistic Competition, Oligopoly

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Question 5 questions

Time 6 minutes

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1. Which of the following is not a characteristic of a kinked demand curve?

2. Which of the following is a characteristic of monopolistic competition?

3. Which of the following is not a characteristic of oligopoly?

4. Which of the following is a characteristic of monopolistic competition?

5. Which of the following illustrates the demand curve facing an oligopolist when rival firms follow a price decrease but not a price increase?