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- 1. Multiple Choice
Price varies by attribute such as a location or by Customer Segment is ________ degree of Price Discrimination
First
Second
Third
Fourth
- 2. Multiple Choice
Price Discrimination cannot persist under the following
Perfect Competition
Monopolistic
Monopoly
Oligopoly
- 3. Multiple ChoiceA firm with market power engages in price discrimination to:earn a higher profit
increase consumer surplus
decrease deadweight loss
make its demand more elastic - 4. Multiple ChoiceIn order for a firm to engage in price discrimination, it must be:producing in the inelastic portion of its demand curve to raise its price and increase total revenuea price taker
able to separate consumers into different groups based on demand elasticitiesexperiencing economies of scale in the relevant range of production
- 5. Multiple Choice
Unlike perfect competition, a monopolist can make abnormal profits in the long run.
True
False
- 6. Multiple Choice
Sweezy' s Model explains the concept of price rigidity relating to the following market forms
Oligopolistic Market
Perfect Competition Market
Monopoly Market
Monopolistic Competition
- 7. Multiple Choice
Which of the following statements is in correct?
Under monopoly there is no difference between a firm and industry
A monopolist may restrict the output and raise the price
Free entry and exit in a Monopoly Market
Product differenciation is peculiar to monopolistic competition
- 8. Multiple Choice
Pure oligopoly is based on the _____ products.
Differentiated
Homogeneous
Unrelated
none of the above
- 9. Multiple Choice
A monopolist is a
Price maker
Price taker
Price adjuster
none of the above
- 10. Multiple Choice
Under monopoly, the degree of control over price is:
none
same
very considerable
none of the above
- Answer choicesTagsAnswer choicesTags