Economics - Oligopoly
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This is the MCQs of Economics
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Question 1 of 24
1. Question
If a few firms dominate an industry the market is known as:
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Question 2 of 24
2. Question
In a cartel member firms may be given a fixed amount to produce. This is called a:
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Question 3 of 24
3. Question
In the kinked Demand Curve theory it is assumed that:
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Question 4 of 24
4. Question
The Kinked Demand curve theory assumes:
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Question 5 of 24
5. Question
In Game Theory:
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Question 6 of 24
6. Question
In the Kinked demand curve theory:
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Question 7 of 24
7. Question
Firms in oligopoly are likely to:
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Question 8 of 24
8. Question
A model of Game theory of oligopoly is known as the:
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Question 9 of 24
9. Question
In cartels:
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Question 10 of 24
10. Question
In a cartel:
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Question 11 of 24
11. Question
The market for hand tools (such as hammers and screwdrivers) is dominated by Draper Stanley, and Craftsman This market is best described as:
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Question 12 of 24
12. Question
A market structure in which many firms sell products that are similar but not identical is known as:
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Question 13 of 24
13. Question
If oligopolists engage in collusion and successfully from a cartel, the market outcome is
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Question 14 of 24
14. Question
Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist:
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Question 15 of 24
15. Question
As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more like:
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Question 16 of 24
16. Question
When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is:
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Question 17 of 24
17. Question
When a oligopolist individually chooses its level of production to maximize its profits it charges a price that is:
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Question 18 of 24
18. Question
As the number of sellers in an oligopoly increases
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Question 19 of 24
19. Question
A situation in which oligopolists interacting with one another each choose their best strategy given the strategies that all the other oligopolists have chosen is known as a:
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Question 20 of 24
20. Question
Many economics argue that resale price maintenance:
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Question 21 of 24
21. Question
Collusion is difficult for an oligopoly to maintain
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Question 22 of 24
22. Question
Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total:
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Question 23 of 24
23. Question
Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of:
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Question 24 of 24
24. Question
Laws that make it illegal for firms to conspire to raise prices or reduce production are known as:
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