
Monopoly
Authored by Misie Zaje
Other
12th Grade
Used 252+ times

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue maximization level of output is at
MC = MR
MC = AR
MC = 0
MC = AC
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is not an advantage of a monopoly?
achieving economies of scale
high level of research and development
Producing a greater quantity at profit-maximizing level of output
higher prices and lower output
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A monopolist can produce at a level of output of either productive or allocative efficiency.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is not a type of a legal barrier?
patent
excise
trademark
copyrights
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unlike perfect competition, a monopolist can make abnormal profits in the long run.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buying "adidasy" is a form of
legal barrier
economies of scale
brand loyalty
anti-competitive behavior
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The profit-maximizing combination of output and price for a single-price monopoly is:
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