Just For Fun
Just For Fun
iPhone & iPad
Can you name the basics of monopoly and market power?
Answers do not have to be guessed in order
This quiz has not been verified by Sporcle
Popular Trivia Games Today
Acronyms Missing the Letter 'Q'
Type Your Way to Fitness!
1-50 in 60
Pandemic Logic Puzzle
This Quiz is NOT About Will Smith
Symbol Match Minefield
Anything but South Sudan
Animals That Aren't Really Animals
/16 answers correct
Show Missed Answers
Monopoly output is ______________.
Monopoly quantity is lower than the competitive quantity.
True or false? P = MC for a perfectly competitive firm.
A perfectly competitive firm is a price taker; it will charge a price equal to marginal cost.
A perfectly-competitive firm faces a _____________________ demand curve.
A perfectly competitive firm can sell as much as it wants at the market price.
True or false? P = MC for a monopolist.
A monopolist can charge a price higher than marginal cost.
Charging different per-unit prices for different quantities of a good is ___________ degree price discrimination.
'1.49 each or 4 for $5.00!'
A monopolist or a monopolistically competitive firm faces a __________________ demand curve.
If a firm with market power wishes to sell more output, it has to lower the price.
Monopoly price is _______________.
Monopoly price is higher than the competitive price.
If a monopolist can perfectly price discriminate, then efficiency will ________________.
Every mutually beneficial trade will be made.
When it is efficient for a single firm to produce the entire market's output, we have a ___________________.
When there are very high fixed costs and very low marginal costs, this might happen.
A monopolist maximizes profit when ________________________.
Firms will produce every unit of output that adds more to revenue than it adds to cost.
Lost gains from trade are ______________.
If marginal value is greater than marginal cost, people can gain from trade.
Charging everyone his or her marginal value (i.e., willingness to pay) is __________ degree price discrimination.
This allows the monopolist to capture all of the gains from trade.
Does price discrimination create deadweight loss?
Price discrimination reduces deadweight loss and increases efficiency
Book publishers publish hardback books before paperback books because they are engaging in _______________.
Some people want it NOW NOW NOW. Others are willing to wait.
Student discounts are an example of _______ degree price discrimination.
The free drink that comes with your meal isn't just because they like you.
In a monopolistically competitive market, products are ___________________.
McDonald's, Burger King, and Taco Bell compete with each other by providing differentiated products.
HIDE THIS WARNING
You might also like these games:
Fast Food Restaurants
(warning: may contain spoilers)
Economics: Monopoly and Market Power Quiz
Created Nov 26, 2009 in
Game Plays 123
Verify your account
to favorite or nominate a game
Friend Scores and Standings
Loading friend results....
Top Games Today in Miscellaneous
Common Knowledge Minefield
US v. UK Baby Battle
30 Things You Should Know that...
Top Games with Similar Tags
Almost Useless Trivia
Fast Food Restaurants
Top User Games in Miscellaneous
Not a State State University
Square roots 0-15
'Sorting tHat' Blitz: Word Ety...
SAT or ACT: Which Test is Righ...
Like us on Facebook
Follow us on Twitter
Follow us on Google+
2007-13 © Sporcle, Inc.
Partner of USA TODAY Sports Digital Properties
Go to the Sporcle.com Mobile Site →