Market Structures

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

• First

• Second

• Third

• Fourth

Price Discrimination cannot persist under the following

• Perfect Competition

• Monopolistic

• Monopoly

• Oligopoly

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 

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
  

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

• True

• False

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

• Oligopolistic Market

• Perfect Competition Market

• Monopoly Market

• Monopolistic Competition

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

Pure oligopoly is based on the _____ products.

• Differentiated

• Homogeneous

• Unrelated

• none of the above

A monopolist is a

• Price maker

• Price taker

• Price adjuster

• none of the above

Under monopoly, the degree of control over price is:

• none

• same

• very considerable

• none of the above