Monopolies

Monopolies

12th Grade

15 Qs

quiz-placeholder

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Monopolies

Monopolies

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Brian Timpson

Used 32+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

For a monopolist, Total Revenue is highest when 
Marginal Revenue is equal to zero
Marginal Revenue is the highest
marginal revenue is negative
marginal revenue is increasing

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image
The monopolist's profit-maximizing output is
0
4
8
10

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image
The monopolist's total revenue equals
$80
$160
$240
$300

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image
The monopolist's total cost equals
$20
$80
$160
$0

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image
The monopolist is earning a profit equal to
$0
$40
$80
$160

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a source of monopoly power?
Scarcity
Elasticity of demand
Barriers to entry
Low Profits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a monopoly?
The exclusive possession or control of the supply or trade in a commodity or service.
A company that owns 0% of the market share
A company among many other companies
A board game

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