Monopoly and Oligopoly

In the 1990s, AT&T controlled 80% of the phone industry and was the ONLY provider of long distance phone service. This is an example of

• monopoly

• Monopolistic Competition

• Perfect Competition

• Oligopoly

MARKET DOMINATED BY A SINGLE SELLER

• OLIGOPOLY

• MONOPOLY

• PERFECT COMPETITION

• MONOPOLISTIC COMPETITION

AN AGREEMENT AMONG MEMBERS OF AN OLIGOPOLY TO SET PRICES AND PRODUCTION LEVELS.

• PREDATORY PRICES

• PRICE FIXING

• CARTELS

• COLLUSION

MARKET DOMINATED BY A FEW, LARGE PROFITABLE FIRMS THAT COLLUDE TO FIX PRICES

• OLIGOPOLY

• MONOPOLY

• PERFECT COMPETITION

• MONOPOLISTIC COMPETITION

Their is only one supplier in this market structure.

• monopoly

• monopolistic competition

• oligopoly

• pure / perfect competition

Airlines are examples of _________________.

• purely / perfectly competitive markets.

• monopolies.

• oligopolies.

• monopolistic competition.

Oligopolies and monopolies are the same because ________.

• They both have many buyers and sellers.

• They both are the only sellers of their product.

• They both have identical products.

• They both have high barriers to entry.

Google is an example of a

• oligopoly

• monopoly

• pure / perfect competition

• monopolistic completion

Car producers are an example of

• monopoly

• oligopoly

• monopolistic competition

• pure / perfect competition

Which market structure is characterized by a single seller dominating the entire market?

• Monopoly

• Oligopoly

• Perfect Competition

• Monopolistic Competition