MT445:Which of the following is true of marginal revenue for

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)