超星 - Quick Quiz 5.3 Monopoly

单选题

Which of the following is not a characteristic of a monopoly?__________________

A. barriers to entry
B. one seller
C. one buyer
D. a product without close substitutes

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单选题

Which of the following is not a reason for the existence of a monopoly?__________________

A. sole ownership of a key resource
B. patents
C. copyrights
D. diseconomies of scale

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单选题

A natural monopoly occurs when__________________

A. the product is sold in its natural state, such as water or diamonds.
B. there are economies of scale over the relevant range of output.
C. the firm is characterized by a rising marginal cost curve.
D. production requires the use of free natural resources, such as water or air.

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单选题

When a firm operates under conditions of monopoly, its price is__________________

A. not constrained.
B. constrained by marginal cost.
C. constrained by demand.
D. constrained only by its social agenda.

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单选题

When a monopolist decreases the price of its good, consumers__________________

A. continue to buy the same amount.
B. buy more.
C. buy less.
D. may buy more or less, depending on the price elasticity of demand.

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单选题

A monopolist maximizes profits by __________________

A. producing an output level where marginal revenue equals marginal cost.
B. charging a price equal to marginal revenue and marginal cost.
C. charging a price where marginal cost equals average total cost.
D. Both a and b are correct.

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单选题

A monopolist produces__________________

A. more than the socially efficient quantity of output but at a higher price than in a competitive market.
B. less than the socially efficient quantity of output but at a higher price than in a competitive market.
C. the socially efficient quantity of output but at a higher price than in a competitive market.
D. possibly more or possibly less than the socially efficient quantity of output, but definitely at a higher price than in a competitive market.

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单选题

The deadweight loss that arises from a monopoly is a consequence of the fact that the monopoly__________________

A. quantity is lower than the socially-optimal quantity.
B. price equals marginal revenue.
C. price is the same as average revenue.
D. earns positive profits.

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单选题

When a monopolist is able to sell its product at different prices, it is engaging in__________________

A. distribution pricing.
B. quality-adjusted pricing.
C. arbitrage.
D. price discrimination.

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单选题

If a monopolist can practice perfect price discrimination, the monopolist will __________________

A. eliminate consumer surplus.
B. eliminate deadweight loss.
C. maximize profits.
D. All of the above are correct.

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