Monopolies

Which of the following is a source of monopoly power?

• Scarcity
• Elasticity of demand
• Barriers to entry
• Low Profits

Which of the following describes the selling of the same product to different consumers at different prices?

• Price discrimination

• Interdependent Pricing

• Price competition

• The Price is Right with Bob Barker

a market in which a single seller dominates

• monopoly

• natural monopoly

• license

• market power

characteristics that cause a producer's average cost per unit to drop as production rises

• economies of scale

• monopolies

• market power

• franchise

a market that runs most efficiently when one large firm provides all of the output

• natural monopoly

• patent

• license

• price discrimination

a monopoly created by the admnistration

• government monopoly

• market power

• monopoly

• natural monopoly

a government license that gives the inventor of a new product the exclusive right to produce and sell it

• patent

• license

• market power

• economies of scale

How many companies are to dominate the industry in a monopoly?

• Many
• All
• None
• One

When a company owns all of the different businesses on which it depends for its operation it is called

• investing

• share holding

• horizontal integration

• vertical integration

When a company buys a lot of smaller businesses and makes one large corporation it is called

• horizontal integration

• vertical integration

• investing

• trading shares