Features of Monopoly
Economics ⇒ Markets and Price Determination
Features of Monopoly starts at 11 and continues till grade 12.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Features of Monopoly.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 11
Define monopoly in the context of market structures.
Describe how a monopoly determines the price and output level.
Describe the relationship between price and marginal revenue in a monopoly.
Explain the concept of 'no close substitutes' in monopoly.
Explain the concept of price discrimination in monopoly.
Explain the concept of 'price maker' in monopoly.
Explain the impact of monopoly on consumer choice.
Explain the role of government in creating monopolies.
Explain why a monopoly can earn abnormal profits in the long run.
Explain why a monopoly does not have a supply curve.
Explain why barriers to entry are important in a monopoly market.
