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1. Which characteristic led to Microsoft exercising monopoly power?

 

A.copyright protection for the Windows operating system

 

B .no close substitutes

 

C.economies of scale

 

D.government franchise

 

2. The goal of antitrust law is to:

 

A. prevent monopolies and monopoly power from arising.

 

B.protect monopolies from the competition.

 

C. make sure consumers pay high prices.

 

D. preserve allocative inefficiencies of monopolies.

 

3. Which of the following is not a characteristic of a monopoly?

 

A. The market has just one seller.

 

B.There exist significant barriers to entry.

 

C. Substitutes for the monopolist's products are available to buyers.

 

D. No close substitutes exist for the monopolist's products.

 

4. A constantly declining long-run average cost curve is a characteristic of what type of industrial structure:

 

A. Monopoly

 

B. Natural monopoly

 

C. Oligopoly

 

D. Perfect competition

 

5. An industry that has large economies of scale operates most efficiently as a(n):

 

A.competitive industry.

 

B.monopoly

 

C.regulated natural monopoly.

 

D.anarchic industry.

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Retselisitsoe Pokothoane
Retselisitsoe PokothoaneLv10
28 Sep 2019
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