Economics: Monopoly and Market Power

Random Miscellaneous Quiz

Can you name the basics of monopoly and market power?

Quiz not verified by Sporcle

 plays        
How to Play
Score 0/16 Timer 04:00
QuestionAnswerExplanation
When it is efficient for a single firm to produce the entire market's output, we have a ___________________.
True or false? P = MC for a monopolist.
Monopoly output is ______________.
If a monopolist can perfectly price discriminate, then efficiency will ________________.
Does price discrimination create deadweight loss?
A perfectly-competitive firm faces a _____________________ demand curve.
True or false? P = MC for a perfectly competitive firm.
A monopolist maximizes profit when ________________________.
QuestionAnswerExplanation
Charging everyone his or her marginal value (i.e., willingness to pay) is __________ degree price discrimination.
Lost gains from trade are ______________.
Book publishers publish hardback books before paperback books because they are engaging in _______________.
In a monopolistically competitive market, products are ___________________.
Charging different per-unit prices for different quantities of a good is ___________ degree price discrimination.
A monopolist or a monopolistically competitive firm faces a __________________ demand curve.
Monopoly price is _______________.
Student discounts are an example of _______ degree price discrimination.

Friend Scores


  Player Best Score Plays Last Played
You You haven't played this game yet.

You Might Also Like...

Extras