Telegram group: T.me/BBCNOUN [ECO231] A few large producer is a characteristics of ________ Oligopoly [ECO231] In a ______ market, there is free entry and exit Perfect competition [ECO231] The essential foundation of demand is rooted in how a consumer behaves in _______ The market [ECO231] At the point where the budget line is tangent to the highest attainable indifference curve, ______ is maximized Utility [ECO231] Which of the following contributes to the existence of oligopoly in an industry_________? Economies of scale [ECO231] There is a _______ relationship between wages and leisure time of a worker Indirect [ECO231] If a monopolistic firm enter the industry in the long run______ will decrease Demand [ECO231] Which of these is not an approach to the study of consumer behaviour Diminishing marginal utility approach [ECO231] A consumer is considered to be a ________ being Rational [ECO231] When a utility curve is downward sloping, it is said to be ______ to the origin Convex