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Market Structures

Total questions: 20

Worksheet time: 14mins

Name
Class
Date
1.

Which of the following best describes the profit-maximizing rule for a perfectly competitive firm?

a)

Choose the quantity where marginal revenue equals average total cost.

b)

Choose the price where its marginal revenue is highest.

c)

Choose the quantity where marginal cost equals average total cost.

d)

Choose the quantity where marginal cost equals price.

e)

Choose the price where average total cost equals average revenue.

2.

All of the following are characteristics of perfectly competitive markets EXCEPT

a)

many sellers

b)

identical goods

c)

many buyers

d)

perfect information

e)

barriers to entry

3.

Untuk sebuah pasar bersaing, kurva penawaran akan sangat terkait dengan

a)

Preferensi konsumen yang membeli produk perusahaan tersebut

b)

Tarif pajak penghasilan yang diberlakukan pemerintah

c)

Biaya produksi perusahaan tersebut

d)

Tingkat suku bunga yang ditawarkan untuk obligasi pemerintah

e)

Pajak yang diberlakukan oleh pemerintah

4.

If a firm in a perfectly competitive market chooses its profit-maximizing quantity, which of the following MUST be true?

a)

MR > MC

b)

P = MC

c)

MR < P

d)

MC > ATC

e)

a.     P > ATC

5.

The market for happy face stickers is perfectly competitive, and the market price for these stickers is greater than the average total cost (ATC) of a typical firm.

Which of the following is true about this market?

a)

Firms are charging prices higher than the marginal cost of producing stickers.

b)

Firms are producing an allocatively inefficient quantity and firms will exit this industry.

c)

Firms are earning positive economic profits and more firms will enter this industry.

d)

Firms are earning zero economic profits and the market is in long-run equilibrium

e)

Firms are producing a cost-efficient quantity

6.

Mammoth Inc. sells computers in a monopoly market.

Which of the following is true about this market?

a)

There is a single firm selling a product with no close substitutes.

b)

There are no, or low, barriers to entry in this market.

c)

Price equals marginal revenue.

d)

The firm earns zero economic profit in the long run.

e)

The seller can charge any price they want.

7.

What is the profit-maximizing combination of output and price for the single price monopoly shown here?

a)

Q2 and P1

b)

Q1 and P1

c)

Q2 and P3

d)

Q1 and P4

e)

Q1 and P3

8.

Meski memunculkan posisi monopoli, hak paten menguntungkan masyarakat, berupa :

a)

Hak paten membuat harga jual menjadi lebih murah

b)

Hak paten mencegah satu perusahaan menguasai input utama

c)

Hak paten mengurangi inefisiensi

d)

Hak paten mendorong perilaku kreatif

e)

Hak paten bisa dimiliki oleh siapapun, bukan hanya pemerintah.

9.

The price and total revenue for the monopoly firm Mammoth, Inc. based on the quantity it sells is shown in this table:

What is the marginal revenue (MR) for the third unit and the forth unit?

a)

MR(3) = $10; MR(4) = $6

b)

MR(3) = $10; MR(4) = $10

c)

MR(3) = $6; MR(4) = $6

d)

MR(3) = -$2; MR(4) = -$2

e)

MR(3) = $14; MR(4) = $12

10.

Apa yang disebut sebagai natural monopoly

a)

sebuah perusahaan yang hanya menjual sumber daya alam

b)

sebuah perusahaan yang menghasilkan kuantitas di mana biaya marjinal sama dengan pendapatan marjinal

c)

sebuah perusahaan yang dapat memasok barang dengan harga lebih rendah daripada oleh dua atau lebih perusahaan

d)

sebuah perusahaan yang merupakan pemilik tunggal dari sumber daya utama

e)

produsen yang meminimalkan biaya total rata-rata daripada memaksimalkan keuntungan

11.

Dalam pasar oligopoly, pilihan strategi perusahaan dengan mempertimbangkan strategi lawannya disebut

a)

Keseimbangan kompetitif

b)

Keseimbangan pasar bebas

c)

Nash equilibrium

d)

Kesejahteraan masyarakat maksimal

e)

Strategi dominan

12.

Advertising is most likely to be used in which kind of market?

a)

Monopoly

b)

Monopolistic competition

c)

Perfect price discriminating monopoly

d)

Oligopoly

e)

Perfect competition

13.

All of these options describe a characteristic of monopolistic competition EXCEPT which option?

a)

many buyers

b)

identical products

c)

a downward-sloping demand curve

d)

no barriers to entry

e)

many sellers

14.

Kesepakatan antara duopolies biasanya sulit dipertahankan karena

a)

Mereka biasanya tidak bisa menyepakati kuantitas yang akan dijual

b)

Mereka biasanya tidak bisa menyepakati harga yang akan ditetapkan

c)

Mereka biasanya ingin mengenakan harga lebih tinggi daripada monopolis

d)

Masing-masing monopolis sering tidak jujur

e)

Tiap duopolies punya dorongan untuk menguasai pangsa pasar yang lebih besar

15.

Which of the following statements correctly identifies a difference between monopoly and monopolistic competition?

a)

The monopoly firm charges a markup, but a monopolistically competitive firm does not.

b)

There are barriers to entry in monopoly, but not in monopolistic competition.

c)

There are many buyers in monopoly, but there are only a few buyers in monopolistic competition.

d)

There is only one firm in monopoly, but there are a few firms in monopolistic competition.

e)

The demand curve is downward sloping in monopoly, but not in monopolistic competition.

16.

Alasan terjadinya excess capacity dalam pasar persaingan monopolistic karena perusahaan

a)

Menggunakan media iklan untuk memperkenalkan produknya

b)

Menetapkan harga lebih rendah dari biaya marjinalnya

c)

Menghasilkan outputnya tidak pada tingkat biaya total rata-rata terendah

d)

Memproduksi output yang permintaannya bersifat elastis sempurna

e)

Berhadapan dengan permintaan terhadap barangnya bersifat inelastis

17.

Which of the following lists shows the types of market ordered from highest to lowest price?

a)

oligopoly, perfect competition, monopoly

b)

perfect competition, monopoly, oligopoly

c)

monopoly, oligopoly, perfect competition

d)

perfect competition, oligopoly, monopoly

e)

monopoly, perfect competition, oligopoly

18.

Charlie’s Cappuccinos, Melia’s Mocha, and Jared’s Java have agreed to collude and act like a monopoly by setting a price of $ 5 per cup of coffee.

What is the most likely outcome?

a)

At least one firm will exit the industry

b)

Industry profits will stay the same in the long run

c)

Industry profits will be higher in the long run

d)

At least one firm will violate the agreement and raise its price

e)

At least one firm will violate the agreement and lower its price

19.

Dari ciri-ciri di bawah ini mana yang tidak sesuai dengan ciri pasar persaingan monopolistic

a)

Jumlah produsen banyak dan ukuran perusahaannya kecil-kecil

b)

Penetapan laba maksimum pada tingkat output dimana MC = MR

c)

Perusahaan membutuhkan media iklan

d)

Perusahaan dihadapkan pada kurva permintaan yang horizontal

e)

Perusahaan sebagai penentu harga (price maker).

20.

Which of the following lists shows the types of market ordered from highest to lowest market quantity?

a)

monopoly, oligopoly, perfect competition

b)

oligopoly, perfect competition, monopoly

c)

perfect competition, monopoly, oligopoly

d)

perfect competition, oligopoly, monopoly

e)

monopoly, perfect competition, oligopoly

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