WESTERN MINDANAO STATE UNIVERSITY

Siay Campus
Dacanay, Siay, Zamboanga Sibugay

Name: ____________________________________ Date/Time:_________________

Direction: Fill in the Blanks. Erasures means wrong.

1. No supplier has any influence over the market price, and thus, the suppliers are often referred to?
_____________________
2. It is much like pure competition in that there are many suppliers and the barriers to entry are low.
___________________________
3. A market dominated by a few suppliers.___________________________
4. A market models wherein the pricing power within the market._____________________
5. A formula in getting the revenue under purely competition.__________________________________.
6-7. 2 methods to determine at what output a seller would maximize profits or minimize
losses._____________________________________________________________,
___________________________________________________________________.
8. ATC means what? _________________________________________.
9. An artificial barrier that is required to operate like in a TV or radio
station.____________________.
10. A time limited right granted by the government to creators of written works right to sell
the given material._____________________________.
11. A tactic used when company lowers the prices of its product below ATC to prevent
competition.________________________________.
12. A formula in getting the Monopoly Loss.___________________________________
13. Selling a product at different prices for different classes of buyers based on their differing elasticity or
demand for the product or service is called________________________.
14-17. The 2 antitrust laws under the United States and are also used in most modern economies are
__________________________ (______) and _________________________________(______).
18. The broadest of the antitrust laws which the main practices are to create or maintain a
monopoly is _____________________________.
19. An antitrust law passed to address if other antitrust law did not practice is called
__________________________________.
20. An act passed creating the Federal Trade Commission the power to conduct
investigations in interstate commerce called _______________________________.
21-30 Give at least 10 types of practices considered anticompetitive under antitrust laws.

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“Be honest if others are not” “Be honest if others cannot” “Be others if others were not”