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16. Consumers are likely to get a variety of goods under
Imperfect competition
Monopoly
Perfect competition
Oligopoly
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17. Excess capacity is not found under
Monopolistic competition
18. Who demonstrated the abnormal shape of the demand curve for diamonds through the doctrine of conspicuous consumption?
Thorstein Veblen
David Ricardo
Robert Giffen
Alfred Marshall
19. A firm under perfect competition faces for its product
A horizontal demand curve
A vertical demand curve
An upward rising demand curve
A downward-sloping demand curve
20. Which of the following creates time utility?
Driver
Carpenter
Trader
Farmer
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