9 min read
This study guide covers Unit 4: Imperfect Competition in AP Microeconomics. It explores market structures including monopolies, monopolistic competition, and oligopolies, focusing on their characteristics, graphs, efficiency implications, and strategic behavior (game theory). The guide emphasizes key concepts like barriers to entry, price discrimination, and dominant strategies, and provides practice questions for the AP exam.
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Question 1 of 11
In which market structure are firms considered 'price makers' rather than 'price takers'? 🧐
Perfect Competition
Imperfect Competition
Monopolistic Competition only
Oligopoly only