Economics Exam Prep MCQs – Mock Test 12

Why Monopoly Arise? MCQ with Answers PDF Download – Test 12

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The "Why Monopoly Arise? MCQs" App Download (Android & iOS): In a monopoly market, the firm is able to set the prices anywhere on the demand curve and acts as a; MCQ with answers: price taker, price maker, consumer, and producer. Learn monopoly questions and answers to improve problem solving skills for digital economics professional development.

Why Monopoly Arise? MCQ – Mock Test 12 PDF Download

MCQ 56: In a monopoly market, the firm is able to set the prices anywhere on the demand curve and acts as a:

price maker
price taker
producer
consumer

MCQ 57: The concept that those who benefit more from government expenditure should pay more taxes to support such expenditure is called as:

cost benefit analysis
benefit principle
coase principle
lump-sum principle

MCQ 58: A situation where total revenue remains fixed when there is change in price, so the demand is:

unit elastic
zero elastic
unit inelastic
zero inelastic

MCQ 59: An offer curve is also known as the reciprocal of the other well known curve such as:

indifference curve
supply curve
isoquant
demand curve

MCQ 60: "Organization of Petroleum Exporting Countries" is the name of group under which 12 of the world's largest oil-exporting nations lying and is the best example of:

cartel
international cartel
dumping
anti-dumping

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