oligopolies IB

oligopolies IB

11th - 12th Grade

12 Qs

quiz-placeholder

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oligopolies IB

oligopolies IB

Assessment

Quiz

Social Studies

11th - 12th Grade

Medium

Created by

karla koskuba

Used 16+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An extreme case of oligopoly in which firms collude to raise joint profits is known as a:

duopoly

cartel

dominant producer

price war

price leadership

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which of the following market structures is it sometimes assumed that rival firms will match price decreases but not match price increases?

Perfect competition

Oligopoly

Natural Monopoly

Monopolistic Competition

Monopoly

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image
What is the equilibrium of the below game?
A,X
A,Y
B,X
B,Y

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which market structure has the MOST competition?
oligopoly
monopoly
perfect competition
monopolistic competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following usually results from colluding firms? 
more is produced
profit decreases
prices are higher
more firms enter the market

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A distinguishing feature of oligopoly is that

The firms do not attempt to maximise profits

The firms are faced by perfectly inelastic demand curves

The firm's pricing or output decisions are interdependent

No firm can raise price above long - run average cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following usually results from colluding firms?

Less is produced

Profit decreases

Prices are higher

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