economics problem?? please help!!!

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1. As a group, oligopolists would always be best off if they would

a. produce more than the perfectly competitive quantity of output.

b. charge the same price that a monopolist would charge if the market were a monopoly.

c. produce the perfectly competitive quantity of output.

d. operate according to their own individual self-interests.

2. A perfectly price-discriminating monopolist is able to

a. exercise illegal preferences regarding the race and/or gender of its employees.

b. maximize profit and produce a socially-optimal level of output.

c. maximize profit, but not produce a socially-optimal level of output.

d. produce a socially-optimal level of output, but not maximize profit.

3. Which of these situations produces the largest profits for oligopolists?

a. They reach the monopoly outcome.

b. They reach a Nash equilibrium.

c. They reach the competitive outcome.

d. They produce a quantity of output that lies between the competitive outcome and the monopoly outcome

4. Which of the following can eliminate the inefficiency inherent in monopoly pricing?

a. arbitrage

b. price discrimination

c. cost plus pricing

d. regulation

5. As new firms enter a monopolistically competitive market, profits of existing firms

a. decline and product diversity in the market increases.

b. decline and product diversity in the market decreases.

c. rise and product diversity in the market increases.

d. rise and product diversity in the market decreases.

6. Monopolistically competitive firms are typically characterized by

a. a few firms selling highly different products.

b. many firms selling identical products.

c. a few firms selling similar or identical products.

d. many firms selling similar, but not identical products

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