超星 - Ch 17 Oligopoly

单选题

As the number of sellers in an oligopoly becomes very large,

A. the quantity of output approaches the monopoly quantity.
B. the price approaches the monopoly price.
C. the price effect is magnified.
D. the quantity of output approaches the socially efficient quantity.

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单选题

When an oligopoly market reaches a Nash equilibrium,

A. the market price will be different for each firm.
B. the firms will not have behaved as profit maximizers.
C. a firm will have chosen its best strategy, given the strategies chosen by other firms in the market.
D. a firm will not take into account the strategies of competing firms.

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单选题

The equilibrium quantity in markets characterized by oligopoly is

A. higher than in monopoly markets and higher than in perfectly competitive markets.
B. higher than in monopoly markets and lower than in perfectly competitive markets.
C. lower than in monopoly markets and higher than in perfectly competitive markets.
D. lower than in monopoly markets and lower than in perfectly competitive markets.

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单选题

Suppose a market is initially perfectly competitive with many firms selling an identical product. Over time, however, suppose the merging of firms results in the market being served by only three or four firms selling this same product. As a result, we would expect

A. an increase in market output and an increase in the price of the product.
B. an increase in market output and an decrease in the price of the product.
C. a decrease in market output and an increase in the price of the product.
D. a decrease in market output and a decrease in the price of the product.

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单选题

In imperfectly competitive markets, increasing production will decrease the price of all units sold. This concept is known as the

A. income effect.
B. output effect.
C. price effect.
D. cartel effect.

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单选题

An oligopolist will increase production if the output effect is

A. less than the price effect.
B. equal to the price effect.
C. greater than the price effect.
D. The oligopolist never has an incentive to increase production.

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单选题

Cartels are difficult to maintain because

A. the monopoly output is very difficult to determine.
B. the number of firms is always large.
C. costs to the firms in a cartel are continually rising.
D. each firm has an incentive to deviate from its agreed output level.

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单选题

Whenever a cartel in a duopoly breaks down,

A. both firms obtain higher profits.
B. total output in the market will rise.
C. price in the market will rise.
D. the socially optimal output will be produced.

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单选题

In the prisoners' dilemma game, self-interest leadsa.b.c.d.

A. each prisoner to stay silent.
B. to the follow-through of any agreement that the prisoners might have made before being questioned.
C. to an outcome that is better for both prisoners.
D. each prisoner to confess.

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单选题

Two suspected drug dealers are stopped by the highway patrol for speeding. The officer searches the car and finds a small bag of marijuana and arrests the two. During the interrogation, each is separately offered the following: "If you confess to dealing drugs and testify against your partner, you will be given immunity and released while your partner will get 10 years in prison. If you both confess, you will each get 5 years." If neither confesses, there is no evidence of drug dealing, and the most they could get is one year each for possession of marijuana. If each suspected drug dealer follows a dominant strategy, what should he/she do?

A. Confess regardless of the partner's decision
B. Confess only if the partner confesses
C. Don't confess regardless of the partner's decision
Don't confess only if the partner doesn't confess

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