Most Updated Oligopoly MCQs ( Economics ) MCQs – New Economics MCQs
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Latest Economics MCQs
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Latest Oligopoly Mcqs ( Economics ) Mcqs
The most occurred mcqs of Oligopoly Mcqs ( Economics ) in past papers. Past papers of Oligopoly Mcqs ( Economics ) Mcqs. Past papers of Oligopoly Mcqs ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Oligopoly Mcqs ( Economics ) Mcqs. The Important series of Oligopoly Mcqs ( Economics ) Mcqs are given below:
A model of Game theory of oligopoly is known as the ?
A. Prisoner’s Dilemma
B. Jailhouses Sentences
C. Monopoly Cell
D. Jury Box
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 ?
A. Rs 80
B. Rs 75
C. Rs 85
D. Rs 60
Many economics argue that resale price maintenance ?
A. has a legitimate purpose of stopping discount retailers from free riding on the services provided by full services retailers?
B. enhances the market power of the producer
C. is price fixing and therefore, is prohibited by law and enhances the market power of the producer
D. is price fixing and, therefore is prohibited by law
As the number of sellers in an oligopoly increases ?
A. collusion is more likely to occur because a larger number of firms can place pressure on any firm that defects
B. the price in the market moves further from marginal cost
C. output in the market tends to fall because each firm must cut back on production
D. The price in the market moves closer to marginal cost
Supply And Demand MCQs
When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is ?
A. more than the level produced by a monopoly and less than the level produced by a competitive market
B. more than the level produced by either monopoly or a competitive market
C. less than the level produce by either monopoly or a competitive market
D. less than the level produced by a monopoly and more than the level produced by a competitive market
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 ?
A. Should produce more units
B. is in a Nash equilibrium
C. has maximized profits.
D. Should produce fewer units
E. should exit the industry.
A market structure in which many firms sell products that are similar but not identical is known as ?
A. monopolistic competition
B. perfect competition
C. monopoly
D. oligopoly
In a cartel ?
A. Price wars are common
B. Firms compete against each other
C. Firms use price to win market share from competitors
D. Firms collude
In the Kinked demand curve theory ?
A. Demand is price inelastic
B. There is a kink in the marginal cost curve
C. Demand is price elastic
D. non-price competition is likely
The Kinked Demand curve theory assumes ?
A. Firms act as part of cartel
B. Firms cooperate
C. Firms are competitive
D. Firms are not profit maximisers
In a cartel member firms may be given a fixed amount to produce. This is called a ?
A. Factor
B. Limit
C. Quota
D. Quotient
Laws that make it illegal for firms to conspire to raise prices or reduce production are known as ?
A. all of these answers
B. antimonopoly laws
C. anti-collusion laws
D. pro-competition laws
E. antitrust laws
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 engages in tying the two products its best strategy is to charge a combined price of ?
A. Rs 90
B. Rs 60
C. Rs 85
D. Rs 75
Collusion is difficult for an oligopoly to maintain ?
A. all of these answers
B. because antitrust laws (also known as competition laws) make collusion illegal
C. if additional firms enter of the oligopoly
D. because, in the case of oligopoly self-interest is in conflict with cooperation.
A situation in which oligopolists interacting with one another each choose their best strategy given the strategies that all the other oligopolists have chosen is known as a ?
A. Nash equilibrium
B. cartel
C. dominant strategy.
D. collusion solution
Introduction To Economics MCQs
When a oligopolist individually chooses its level of production to maximize its profits it charges a price that is ?
A. more than the price charged by either monopoly or a competitive market
B. more than the price charged by a monopoly and less then the price charged by a competitive market
C. less than the price charged by either monopoly or a competitive market
D. less than the price charged by a monopoly and more than the price charged by a competitive market
As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more like ?
A. monopolistic competition
B. a competitive market
C. monopoly
D. a collusion solution
If oligopolists engage in collusion and successfully from a cartel, the market outcome is ?
A. efficient because cooperation improves efficiency
B. the same as if it were served by competitive firms.
C. the same as if it were served by a monopoly.
D. known as a Nash equilibrium
The market for hand tools (such as hammers and screwdrivers) is dominated by Draper Stanley, and Craftsman This market is best described as ?
A. a monopoly
B. monopolistically competitive
C. an oligopoly
D. competitive
In cartels ?
A. The industry as a whole is loss making
B. There may be an incentive to cheat
C. Each individual firm profit maximizes
D. There is no need to police agreements
Firms in oligopoly are likely to ?
A. Act independently of other firms
B. Invest heavily in branding
C. Try to differentiate its products
D. Try to be a price maker
In Game Theory ?
A. Firms collude as part of cartel
B. Firms are assumed to cooperate with each other
C. Firms are assumed to act independently
D. Firms consider the actions of others before deciding what to do
In the kinked Demand Curve theory it is assumed that ?
A. An increase in price by the firm is not followed by others
B. A decrease in price by the firm is followed by others
C. An increase in price by the firm is followed by others
D. Firms collude to fix the price
If a few firms dominate an industry the market is known as ?
A. Competitively monopolistic
B. monopolistic competition
C. Duopoly
D. Oligopoly