Market Structures

Market Structures

University - Professional Development

10 Qs

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Market Structures

Market Structures

Assessment

Quiz

Business

University - Professional Development

Practice Problem

Hard

Created by

Swarnava Chandra

Used 165+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price varies by attribute such as a location or by Customer Segment is ________ degree of Price Discrimination

First

Second

Third

Fourth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price Discrimination cannot persist under the following

Perfect Competition

Monopolistic

Monopoly

Oligopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firm with market power engages in price discrimination to:

earn a higher profit
increase consumer surplus
decrease deadweight loss
make its demand more elastic 

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order for a firm to engage in price discrimination, it must be: 

producing in the inelastic portion of its demand curve to raise its price and increase total revenue 
a price taker
able to separate consumers into different groups based on demand elasticities 
experiencing economies of scale in the relevant range of production

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

Sweezy' s Model explains the concept of price rigidity relating to the following market forms

Oligopolistic Market

Perfect Competition Market

Monopoly Market

Monopolistic Competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is in correct?

Under monopoly there is no difference between a firm and industry

A monopolist may restrict the output and raise the price

Free entry and exit in a Monopoly Market

Product differenciation is peculiar to monopolistic competition

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