This monopolist should produce ?
This monopolist should produce ?
A. 1
B. 2
C. 3
D. 4
E. 5
This monopolist should produce ? Read More »
Economics Mcqs, MonopolyIn order to maximize profits, a monopoly company will produce that quantity at which the ?
In order to maximize profits, a monopoly company will produce that quantity at which the ?
A. marginal revenue equals average total cost
B. Price equals marginal revenue
C. marginal revenue equals marginal cost
D. total revenue equals total cost
Which of the following is a characteristic of pure monopoly ?
Which of the following is a characteristic of pure monopoly ?
A. One seller of the product
B. low barriers to entry
C. close substitute products
D. perfect information
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Economics Mcqs, MonopolyA monopoly is able to continue to generate economic profits in the long run because ?
A monopoly is able to continue to generate economic profits in the long run because ?
A. there is some barrier to entry to that market
B. Potential competitors sometimes don’t notice the the profits.
C. the monopolist is financially powerful.
D. antitrust laws eliminate competitors for a specified number of years.
E. of all of the things described in these answers
A monopoly is able to continue to generate economic profits in the long run because ? Read More »
Economics Mcqs, MonopolyWhich of the follow statements about price discrimination is not true ?
Which of the follow statements about price discrimination is not true ?
A. Perfect price discrimination generates a deadweight loss
B. Price discrimination can raise economic welfare.
C. price discrimination requires that seller be able to separate buyers according to their willingness to pay.
D. Price discrimination increases a monopolist’s profits.
E. For a monopolist to engage in price discrimination buyers must be unable to engage in arbitrage.
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Economics Mcqs, MonopolyThe purpose of antitrust (also known as competition) laws is to ?
The purpose of antitrust (also known as competition) laws is to ?
A. Increase competition in an industry by preventing mergers and breaking up large firms.
B. regulate the prices charged by a monopoly
C. increase merger activity to help generate synergies that reduce costs and raise efficiency.
D. create public ownership of natural monopolies
E. all of these answers
The purpose of antitrust (also known as competition) laws is to ? Read More »
Economics Mcqs, MonopolyThe monopolist’s supply curve ?
The monopolist’s supply curve ?
A. does not exist
B. is the marginal cost curve above average variable cost?
C. is the marginal cost curve above average total cost
D. is the upward-slog portion of the average total cost curve
E. The upward-slog portion of the average variable cost
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Economics Mcqs, MonopolyThe inefficiency associated with monopoly is due to ?
The inefficiency associated with monopoly is due to ?
A. underproduction of the good
B. the monopoly’s profits
C. the monopoly’s losses
D. overproduction of the good
The inefficiency associated with monopoly is due to ? Read More »
Economics Mcqs, MonopolyThomas is a monopolist in the production of your textbook because ?
Thomas is a monopolist in the production of your textbook because ?
A. Thomson has a legally protected exclusive right to produce this textbook
B. Thomson owns a key resource in the production of textbooks.
C. Thomson is a natural monopoly,
D. Thomson is a very large company
Thomas is a monopolist in the production of your textbook because ? Read More »
Economics Mcqs, MonopolyWhich of the following statements about price and marginal cost in competitive and monopolized markets is true ?
Which of the following statements about price and marginal cost in competitive and monopolized markets is true ?
A. In competitive markets, price equals marginal cost, in monopolized markets price exceeds marginal cost.
B. In competitive markets price equals marginal cost, in monopolized markets price equals marginal cost
C. In competitive markets price exceeds marginal cost, in monopolized markets price exceeds marginal cost
D. In competitive markets price exceeds marginal cost in monopolized markets price equals marginal cost