4.2 Monopoly MCQ Open Practice
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Last updated about 2 months ago
10 questions
Required
1
Which of the following is a characteristic of a monopoly?
Which of the following is a characteristic of a monopoly?
Required
1
Why do monopolies have high barriers to entry?
Why do monopolies have high barriers to entry?
Required
1
Required
1
How does a monopolist maximize profit?
How does a monopolist maximize profit?
Required
1
What causes deadweight loss in a monopoly?
What causes deadweight loss in a monopoly?
Required
1
What happens to consumer surplus in a monopoly?
What happens to consumer surplus in a monopoly?
Required
1
What is likely to happen to efficiency in a monopoly?
What is likely to happen to efficiency in a monopoly?
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1
How do monopolies affect prices compared to perfect competition?
How do monopolies affect prices compared to perfect competition?
Required
1
If a monopolist's total cost curve is TC = 100 + 4Q and the demand is P = 20 - Q, what is the profit-maximizing quantity?
If a monopolist's total cost curve is TC = 100 + 4Q and the demand is P = 20 - Q, what is the profit-maximizing quantity?
Required
1
Given the same cost and demand functions, what is the monopolist’s profit at the profit-maximizing level?
Given the same cost and demand functions, what is the monopolist’s profit at the profit-maximizing level?