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Mic10: Market structures, types of monopoly
By Jeffrey See
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Last updated about 6 years ago
5 questions
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Question 1
1.
Place the correct characteristic under its
market structure
.
many firms (100's-1000's)
few firms (3-12)
one firm
price taker
identical products
collusion
unique product
product differentiation
a lot of non-price competition
most control over price
Perfect Competition
Monopolistic competition
Oligopoly
Monopoly
Question 2
2.
What type of
monopoly
exists because there are no other firms within a given area?
Government monopoly
Technological monopoly
Geographic monopoly
Natural monopoly
Question 3
3.
What type of
monopoly
has control over a production method, process, or other scientific advance such as a patent or copyright.
Geographic monopoly
Government monopoly
Technological monopoly
Natural monopoly
Question 4
4.
What type of
monopoly
can supply a good or service to an entire market at a lower cost than could two or more firms?
Natural monopoly
Geographic monopoly
Technological monopoly
Government monopoly
Question 5
5.
What type of
monopoly
is owned and operated by the government?
Government monopoly
Geographic monopoly
Technological monopoly
Natural monopoly