mcq72

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University of Mississippi *

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537

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Economics

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Jan 9, 2024

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2

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Which economic concept is often associated with market design? a. Perfect competition b. Monopoly c. Oligopoly d. Socialism What is the primary purpose of designing a matching market? a. Maximizing profits for sellers b. Allocating resources based on preferences and priorities c. Minimizing consumer choices d. Setting fixed prices for goods and services Which factor is NOT typically considered in market design? a. Efficiency b. Equity c. Environmental impact d. Government regulations What is a common challenge in designing markets for complex goods or services? a. Lack of buyer and seller interest b. Difficulty in defining property rights c. Oversupply of goods d. Absence of competition What does the term "auction design" refer to in market design? a. Designing physical auction houses b. Creating rules for conducting auctions c. Designing auctioneer costumes
d. None of the above Which market structure is characterized by a single seller dominating the entire market? a. Monopoly b. Oligopoly c. Perfect competition d. Monopolistic competition
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