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Monopoly Quiz

Authored by Derek Herber

Social Studies

11th Grade

Monopoly Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure is likely to have the most firms?

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of a monopolist in a market?

To compete with other firms

To be the sole supplier

To reduce market prices

To increase competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the average cost?

The total cost of production divided by the quantity of output

The total revenue divided by the quantity of output

The total profit divided by the quantity of output

The total variable cost divided by the quantity of output

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the entry condition for new firms in perfect competition?

Restricted

Free

Limited

Prohibited

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure has restricted entry for new firms?

Perfect competition

Monopoly

Oligopoly

Monopolistic competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does government protection contribute to a monopoly?

By increasing competition

By reducing start-up costs

By providing legal barriers to entry

By allowing open market access

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do unfair practices play in establishing a monopoly?

They promote fair competition

They create barriers for new entrants

They reduce market power

They encourage innovation

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