A-Level经济真题每期一练（22）

上期真题答案：1.D 2.C 3.E 4.C 5.D

接下来是今天的真题，一起练起来呀~

1.

2. Which of the following is a defining characteristic of a perfectly competitive industry?

A advertisements by well known celebrities

B persistent economic profits in the long run

C higher prices being charged for certain name brands

D no restrictions on entryinto the industry     

3. The table shows some of the assumptions of perfect competition and monopolistic competition. Which pairing is correct? 

4. Which feature does a contestable market share with a perfectly competitive market?

A Firms must be price takers.

B Firms must operate on a small scale.

C There must be freedom of entry to and exit from the industry.

D There must be many firms inthe industry. 

5 A firm selling microchips is operating under conditions of perfect competition.

The market price is below the firm’s average variable costs. The immediate response of this firm will be to

A raise its price

B shut down

C reduce output and cut its price

D keep its price and output unchanged

E cut its price and increase output