《江西财经大学微观经济学试题库》chapter 15.docx

1、Microeconomics, 10e (Parkin) Chapter 15 Oligopoly1 What is Oligopoly?1) An oligopoly is a market structure in which there areA) only a few buyers but many sellers.B) only a few sellers selling either an identical or differentiated product.C) many sellers selling a differentiated product.D) a few pro

2、ducts sold by many sellers. Answer: BTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking2) Which of the following is a distinguishing characteristic of oligopoly?A) A small number of firms compete.B) No one firms actions directly affect the ac

3、tions of the other firms.C) Firms are free to enter and exit the industry.D) Natural barriers cannot prevent the entry of new firms. Answer: ATopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking3) When only a small number of producers compete w

4、ith each other is a defining characteristic ofA) inelastic supply.B) monopolistic competition.C) efficient competition.D) oligopoly. Answer: D Topic: OligopolySkill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking76Copyright 2012 Pearson Education, Inc.4) In olig

5、opolistic markets,A) there are many firms.B) there are no barriers to entry.C) there are only a few firms.D) all firms are price takers. Answer: CTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking5) A market structure in which a small number

6、of firms compete is called .A) a monopolyB) a small-number marketC) an oligopolyD) monopolistic competition Answer: CTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking6) The key feature of an oligopoly is that thereA) are many buyers and sell

7、ers.B) is one seller.C) exists product differentiation.D) are only a few sellers. Answer: DTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking7) In an oligopolyA) there are only a few firms.B) there is no product differentiation.C) there is fr

8、ee entry and exit.D) firms decisions are unrelated to each other. Answer: ATopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking8) A market structure in which a small number of producers compete against each other isA) monopolistic competition.B

9、) oligopoly.C) monopoly.D) perfect competition.Answer: BTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking9) If firms in an industry differentiated their products and made economic profits in the short- run, what other characteristic would be

10、 important to determine if this is an oligopoly or a monopolistically competitive market?A) The number of firms in the market.B) The number of close substitutes for the good being produced.C) The number of buyers in the market.D) If the good being sold is a normal or inferior good. Answer: ATopic: O

11、ligopoly Skill: RecognitionQuestion history: New 10th edition AACSB: Reflective Thinking10) The distinguishing features of oligopoly are and a in the industry.A) barriers to entry; large number of firmsB) no barriers to entry; few firmsC) barriers to entry; few firmsD) no barriers to entry; large nu

12、mber of firms Answer: CTopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking11) Oligopoly isA) like monopoly because there are barriers to entry.B) like perfect competition because oligopoly firms all sell homogeneous goods.C) like monopolistic

13、competition because oligopoly firms all sell differentiated goodsD) like perfect competition because there are many firms in the industry Answer: ATopic: Oligopoly Skill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking12) Which of the following is a distinguishin

14、g characteristic of oligopoly?A) A large number of firms compete.B) No one firms actions directly affect the actions of the other firms.C) Firms are free to enter and exit the industry.D) Natural or legal barriers prevent the entry of new firms. Answer: DTopic: Oligopoly Skill: RecognitionQuestion h

15、istory: Previous edition, Chapter 15 AACSB: Reflective Thinking13) Which of the following is a defining characteristic of oligopoly?A) barriers to entryB) selling a homogeneous goodC) selling a differentiated goodD) collusion Answer: A Topic: OligopolySkill: RecognitionQuestion history: Previous edition, Chapter 15 AACSB: Reflective Thinking14) Natural oligopoly is a situation whereA) the level of demand can support only a few firms.B) there is only one firm.C) there are only two firms.D) there are legal barriers to entry. Answer: ATopic: Natural Oligo