Oligopoly Mcqs for Economics
Oligopoly Mcqs for Economics, this topic has 24 mcqs, It takes five to ten minutes to complete this free Oligopoly Mcqs for Economics test. You will see 4 or 5 option of each question. You must choose / think only one option and then press on answer key for check right answer. Practice "Oligopoly Mcqs for Economics" MCQs and share with your friends, brothers, sisters.
Oligopoly Mcqs for Economics (Total Quiz: 24)
MCQ: A model of Game theory of oligopoly is known as the ?
- Prisoner’s Dilemma
- Monopoly Cell
- Jailhouses Sentences
- Jury Box
A
MCQ: 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 ?
- Rs 85
- Rs 75
- Rs 80
- Rs 60
B
MCQ: Many economics argue that resale price maintenance ?
- has a legitimate purpose of stopping discount retailers from free riding on the services provided by full services retailers?
- is price fixing and, therefore is prohibited by law
- is price fixing and therefore, is prohibited by law and enhances the market power of the producer
- enhances the market power of the producer
A
MCQ: As the number of sellers in an oligopoly increases ?
- output in the market tends to fall because each firm must cut back on production
- the price in the market moves further from marginal cost
- collusion is more likely to occur because a larger number of firms can place pressure on any firm that defects
- The price in the market moves closer to marginal cost
D
MCQ: When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is ?
- more than the level produced by a monopoly and less than the level produced by a competitive market
- less than the level produced by a monopoly and more than the level produced by a competitive market
- less than the level produce by either monopoly or a competitive market
- more than the level produced by either monopoly or a competitive market
A
MCQ: 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 ?
- Should produce more units
- has maximized profits
- is in a Nash equilibrium
- Should produce fewer units
- should exit the industry
A
MCQ: A market structure in which many firms sell products that are similar but not identical is known as ?
- monopolistic competition
- monopoly
- perfect competition
- oligopoly
A
MCQ: In a cartel ?
- Firms compete against each other
- Price wars are common
- Firms use price to win market share from competitors
- Firms collude
D
MCQ: In the Kinked demand curve theory ?
- There is a kink in the marginal cost curve
- Demand is price inelastic
- Demand is price elastic
- non-price competition is likely
D
MCQ: The Kinked Demand curve theory assumes ?
- Firms cooperate
- Firms act as part of cartel
- Firms are competitive
- Firms are not profit maximisers
C