Monopoly

Monopoly

University

25 Qs

quiz-placeholder

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Monopoly

Monopoly

Assessment

Quiz

Social Studies

University

Hard

Created by

John Robinson

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Another term for monopoly during the period 1865-1900 was

Big Business

Trust

Giant of Industry

Forbes 500

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which market has no competition?

perfect competition

oligopoly

monopoly

monopolistic competition

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

One of the requirements for a monopoly is that

products are high priced

there are several close substitutes for the product

there is a unique product with no close substitutes

the product cannot be produced by small firms

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A monopoly is a market with

many suppliers

no barriers to entry

many substitutes

one supplier

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A type of monopoly that arises because a single firm can supply a good or service to an entire market at a lower cost than could two or more firms.

Monopoly

Natural Monopoly

Price Discrimination

Cartel

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What law was first passed to address monopoly power?

Sherman Antitrust Act

Clayton Antitrust Act

Pinkerton Antitrust Act

Makerpeace Antitrust Act

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The profit-maximizing combination of output and price for a single-price monopoly is:

Q1 & P1

Q2 & P3

Q1 & P4

Q3 & P2

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