Monopoly

Monopoly

9th - 11th Grade

14 Qs

quiz-placeholder

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Monopoly

Monopoly

Assessment

Quiz

Other

9th - 11th Grade

Medium

Created by

Iffat Wafa/TCHR/BMBRC

Used 8+ times

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14 questions

Show all answers

1.

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unlike perfect competition, a monopolist can make abnormal profits in the long run.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buying "adidasy" is a form of

legal barrier

economies of scale

brand loyalty

anti-competitive behavior

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is it that ultimately limits a monopolist?

Nothing.

The demand curve for their product.

The government.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monopolist can control

price

output

both

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monopolists are price takers.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A monopoly is the sole seller of a product with no close substitutes.

True

False

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