Economics - Monopoly & Competition
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This is the MCQs of Economics
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Question 1 of 15
1. Question
Which of the following is not a characteristic of a monopolistically competitive market?
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Question 2 of 15
2. Question
Which of the following products is least likely to be sold in a monopolistically competitive market?
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Question 3 of 15
3. Question
Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly?
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Question 4 of 15
4. Question
In the short run, if the price is above average total cost in a monopolistically competitive market, the firm makes
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Question 5 of 15
5. Question
Which of the following is true regarding the production and pricing decisions of monopolistically competitive firms? Monopolistically competitive firms choose the quantity at which marginal cost equals
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Question 6 of 15
6. Question
Which of the following firms has the least incentive to advertise?
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Question 7 of 15
7. Question
Which of the following is true with regard to monopolistically competitive firms scale of production and pricing decisions Monopolistically competitive firms produce
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Question 8 of 15
8. Question
One source of inefficiency in monopolistic competition is that since price is above marginal cost, some units are not produced that buyers value in
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Question 9 of 15
9. Question
When firms enter a monopolistically competitive market and the business-stealing externality is larger than the product-variety externality then
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Question 10 of 15
10. Question
The use of word “competition” in the name of the market structure called “monopolistic competition” refers to the fact that
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Question 11 of 15
11. Question
The use of the word “monopoly” in the name of the market structure called “monopolistic competition” refers to the fact that
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Question 12 of 15
12. Question
Which of the following firms is most likely to spend a large percentage of their revenue on advertising?
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Question 13 of 15
13. Question
Defenders of the use of brand names argue that brand names
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Question 14 of 15
14. Question
Which of the following is not put forth as a criticism of advertising and brand names?
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Question 15 of 15
15. Question
Which of the following is not an argument put forth by economists in support of the use of advertising?
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