This quiz is a part of the CFA Level 1 reading 'The Firm and Market Structures'. 

The Firm and Market Structures

Possible for both a pure monopoly and a pure competitor.

Possible for a pure monopoly, but not for a pure competitor.

Impossible for both a pure monopolist and a pure competitor.

Marginal cost curve that is above the average total cost curve.

Marginal cost curve that is above the average variable cost curve.

A firm chooses its dominant strategy, if one exists. 

Every competing firm in an industry chooses a strategy that is optimal given the choices of every other firm. 

All firms in an industry are earning zero economic profits.

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