________________ is a price structure in which  the seller charges the highest price that each consumer is willing to pay for the product rather than go without it.

In the above figure, The type of good in perfect competition is (4) _________________________

Hint: A price-taker is an individual or company that must accept prevailing prices in a market, lacking the market share to influence market price on its own. In the above figure, a firm in oligopoly is (9) _____________________ 

Based on the figure above illustrating perfect competition and monopoly:which of the following is not true for a monopolist?

  ________________is a condition in which a person’s or group’s actions cause a benefit to be felt by others.  

Online retail platforms use consumer product review big data, combined with machine learning techniques, to determine whether a potential customer will make a purchase during the next year’s Thanksgiving break. This is an example of _____________.

In a cartel, several firms band together in order to act as _____________ and capture the benefits.

The excess capacity theorem states that, in equilibrium, a monopolistically competitive firm will produce an output _________  the one that would minimize its unit costs of production. 

Hint: A price-taker is an individual or company that must accept prevailing prices in a market, lacking the market share to influence market price on its own. In the above figure, a firm in monopoly is (8) _____________________ 

In the above figure, The type of good in oligopoly is (6) _________________________