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Gillespie: Foundations of Economics

Unit 13

Instructions

Choose your answers from a-d by clicking the radio button next to each choice and then press 'Submit' to get your score.

Question 1

If a few firms dominate an industry the market is known as:

Question 2

In a cartel member firms may be given a fixed amount to produce. This is called a:

Question 3

In the Kinked Demand Curve theory it is assumed that:

Question 4

The Kinked Demand Curve theory assumes:

Question 5

In Game Theory:

Question 6

In the kinked demand curve theory:

Question 7

Firms in oligopoly are likely to:

Question 8

A model of Game Theory of oligopoly is known as the:

Question 9

In cartels:

Question 10

In a cartel: