Market Structure Quiz

Market Structure Quiz

12th Grade

23 Qs

quiz-placeholder

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Market Structure Quiz

Market Structure Quiz

Assessment

Quiz

Other

12th Grade

Medium

Created by

Cathy TANG HALES

Used 6+ times

FREE Resource

23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This firm is making

Normal profit

Supernormal profits

Losses

Accounting profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram illustrates

Allocative efficiency

Dynamic efficiency

Productive efficiency

Inefficiency

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram illustrates

A pure monopoly

Monopsony

A natural monopoly

A duopolu

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram illustrates

Firm in Per Compin the SR

Monopolists charge a higher price and lower output

Monopolists charge a lower price and lower output

Both firms are allocatively efficient

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram represents

A monopolist in the long run

Per Comp in the long run

Monopolistically competitive firm in the short run

Monopolistically competitive firm in the long run

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram illustrates

A profit maximising firm in per comp

A profit maximising cartel

A revenue maximising monopoly

A natural monopoly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This diagram shows

A comparison between allocative and productive efficiency

A comparison between welfare loss in per comp versus monopoly

A comparison between revenue and profit maximisation

A rise in consumer surplus

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