Monopoly
Quiz
•
Social Studies
•
University
•
Practice Problem
•
Hard
John Robinson
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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Another term for monopoly during the period 1865-1900 was
Big Business
Trust
Giant of Industry
Forbes 500
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which market has no competition?
perfect competition
oligopoly
monopoly
monopolistic competition
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
One of the requirements for a monopoly is that
products are high priced
there are several close substitutes for the product
there is a unique product with no close substitutes
the product cannot be produced by small firms
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A monopoly is a market with
many suppliers
no barriers to entry
many substitutes
one supplier
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A type of monopoly that arises because a single firm can supply a good or service to an entire market at a lower cost than could two or more firms.
Monopoly
Natural Monopoly
Price Discrimination
Cartel
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What law was first passed to address monopoly power?
Sherman Antitrust Act
Clayton Antitrust Act
Pinkerton Antitrust Act
Makerpeace Antitrust Act
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The profit-maximizing combination of output and price for a single-price monopoly is:
Q1 & P1
Q2 & P3
Q1 & P4
Q3 & P2
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