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MT445 Unit 5 Review

MT445 Unit 5 Review
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MT445 / MT 445
Managerial Economics
Kaplan University (KU Campus)

William A. McEachern
Economics: A Contemporary Introduction, 8e
Hoboken, NJ: John Wiley & Sons.

Unit 5: Monopolies, Oligopolies, and Market Structure

Unit 5 Review / Quiz Answers

1. Patent laws (Points: 1)

2. Which of the following is true of marginal revenue for a monopolist that charges a single price? (Points: 1)

3. Negative marginal revenue means that (Points: 1)

4. A profit-maximizing monopolist produces an output level at which (Points: 1)

5. Compared to a perfectly competitive market, a monopoly tends to produce (Points: 1)

6. Monopolistic competition is best described as (Points: 1)

7. Which of the following characteristics does perfect competition share with monopolistic competition? (Points: 1)

8. Monopolistically competitive firms do not achieve productive efficiency because (Points: 1)

9. There are multiple models of pricing behavior in oligopolistic markets because (Points: 1)

10. Which of the following is likely to occur when a two-person game can be played repeatedly? (Points: 1)



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