
Monopolies and Monopolistic Competitive Firms
Quiz
•
Social Studies
•
10th - 12th Grade
•
Hard
Aaron Robinson
Used 4+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One difference between perfect competition and monopolistic competition is that
a perfectly competitive industry has fewer firms
monopolistic competition has barriers to entry.
firms in monopolistic competition face a downward-sloping demand curve.
in perfect competition, firms produce slightly differentiated products.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A monopolistically competitive industry has
a small number of large firms
differentiated products.
significant barriers to entry.
mutually dependent firms.
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
One important difference between monopoly and monopolistic competition is the
greater restriction of output in monopolistic competition.
point there are no barriers to entry in monopolistic competition.
point that the marginal revenue and demand curves are the same for a monopoly.
slope of the demand curve that the firms faces.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Firms in monopolistic competition always will
produce at the minimum average total cost.
set their price equal to their marginal cost.
earn an economic profit.
set their price above their marginal cost.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In monopolistic competition, in the short run a firm maximizes its profit by selecting an output at which marginal cost equals
price.
zero.
marginal revenue.
average total cost.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In the above figure, if the firm is in monopolistic competition, it will produce
100 units.
40 units
60 units.
between 60 and 80 units.
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In the above figure, the monopolistically competitive firm earns an economic profit of
between $50.01 and $100 per day.
greater than $100.01 per day.
$0.
between $0 and $50 per day.
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
15 questions
ACHIEVEMENTS - UNIT 9 (Vocabulary)
Quiz
•
6th Grade - University
10 questions
GDP
Quiz
•
12th Grade
15 questions
Market structures
Quiz
•
9th - 12th Grade
16 questions
Review Econ: Multipliers
Quiz
•
12th Grade
12 questions
Business Chapter 5: Marketing
Quiz
•
1st - 12th Grade
15 questions
Ch.6 Money Market & Monetary Policy
Quiz
•
12th Grade
14 questions
Language and Thought Summary Part I
Quiz
•
10th - 12th Grade
15 questions
LBS Eggenburg 2024
Quiz
•
7th Grade - University
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
20 questions
ELA Advisory Review
Quiz
•
7th Grade
15 questions
Subtracting Integers
Quiz
•
7th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
10 questions
Exploring Digital Citizenship Essentials
Interactive video
•
6th - 10th Grade
Discover more resources for Social Studies
38 questions
Q1 Summative Review
Quiz
•
11th Grade
1 questions
PLT Question for 09/21/25
Quiz
•
9th - 12th Grade
1 questions
PLT CFA 9/30/2025
Quiz
•
9th - 12th Grade
36 questions
Unit 5 Key Terms
Quiz
•
11th Grade - University
10 questions
Unit 6 - Great Depression & New Deal
Quiz
•
11th Grade
38 questions
Unit 6 Key Terms
Quiz
•
11th Grade - University
22 questions
25-26 Standard 3
Quiz
•
11th Grade
1 questions
PLT CFA 10/2/25
Quiz
•
9th - 12th Grade