A. mobile phone
B. electricity
C. water supply
D. postal service
Related Mcqs:
- Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly ?
A. the monopolist faces a downward-sloping demand curve while the monopolistic competitor faces an elastic demand curve
B. the monopolist charges a price above marginal cost while the monopolistic competitor charges a price equal to marginal cost
C. The monopolist makes economic profits in the long run while the monopolistic competitor makes zero economic profits in the long run
D. Both the monopolist and the monopolistic competitor operate at the efficient scale - In monopoly which of the following is true ?
A. There are many buyers and sellers
B. There is one main buyer
C. There is one main seller
D. The actions of one firm do not affect the market price and quantity - Which of the following is a characteristic of pure monopoly ?
A. One seller of the product
B. low barriers to entry
C. close substitute products
D. perfect information - Which of the following is necessary for a natural monopoly ?
A. economies of scale
B. a high proportion of the total cost in the cost of capital goods
C. the market is very small
D. all of the above - In a monopoly which of the following is not true ?
A. Products are differentiated
B. There is freedom of entry and exit into the industry in the long run
C. The firm is a price taker
D. There is one main sellers - In a monopoly, marginal revenue is ?
A. lower than price for all units other than the first
B. less than price at low levels of output and greater than price at high levels of output
C. always greater than price
D. always equal to price - A welfare loss occurs in monopoly where ?
A. The price is greater than the marginal cost
B. The price is greater than the marginal benefit
C. The price is greater than the average revenue
D. The price is greater than the marginal revenue - If regulators break up a natural monopoly into many smaller firms, the cost of production ?
A. will rise
B. will fall
C. will remain the same
D. could either rise or fall depending on the elasticity of the monopolist’s supply curve - A monopoly may be self-perpetuating because profits may be used for ?
A. research
B. cost-saving
C. technical advance
D. all of the above - Groundnut crop is the monopoly of ?
A. Indonesia
B. Bangladesh
C. Pakistan
D. India
