Question 1

What shape best describes the demand curve of a monopolist?

Question 1 options:

downward sloping and below the marginal revenue curve

identical to the marginal cost curve

kinked because of recognized interdependence with other firms

downward sloping and above the marginal revenue curve

Question 2

In which market structure will you find a price maker?

Question 2 options:

perfect competition

monopolistically competitive

oligopoly

monopoly

Question 3

Canada Post historically has had a monopoly over the market for the delivery of first-class letters in Canada.

Question 3 options:

TrueFalse

Question 4

In Canada, what are anti-combine laws designed to do?

Question 4 options:

create perfectly competitive industries

increase the number of union members

reduce the ability of firms to attain market power through mergers

prevent producer surplus

Question 5(1 point)

Every weekend, retailers, particularly grocery stores, publish discount coupons in local papers. What is this behaviour consistent with?

Question 5 options:

concern for low-income families

increasing returns to scale

price discrimination

perfect competition