《江西财经大学微观经济学试题库》chapter 15.docx
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Microeconomics,10e（Parkin）Chapter15Oligopoly
1WhatisOligopoly?
1）Anoligopolyisamarketstructureinwhichthereare
A）onlyafewbuyersbutmanysellers.
B）onlyafewsellerssellingeitheranidenticalordifferentiatedproduct.
C）manysellerssellingadifferentiatedproduct.
D）afewproductssoldbymanysellers.Answer:
B
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
2）Whichofthefollowingisadistinguishingcharacteristicofoligopoly?
A）Asmallnumberoffirmscompete.
B）Noonefirm'sactionsdirectlyaffecttheactionsoftheotherfirms.
C）Firmsarefreetoenterandexittheindustry.
D）Naturalbarrierscannotpreventtheentryofnewfirms.Answer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
3）Whenonlyasmallnumberofproducerscompetewitheachotherisadefiningcharacteristicof
A）inelasticsupply.
B）monopolisticcompetition.
C）efficientcompetition.
D）oligopoly.Answer:
DTopic:
Oligopoly
Skill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
76
Copyright©2012PearsonEducation,Inc.
4）Inoligopolisticmarkets,
A）therearemanyfirms.
B）therearenobarrierstoentry.
C）thereareonlyafewfirms.
D）allfirmsarepricetakers.Answer:
C
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
5）Amarketstructureinwhichasmallnumberoffirmscompeteiscalled .
A）amonopoly
B）asmall-numbermarket
C）anoligopoly
D）monopolisticcompetitionAnswer:
C
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
6）Thekeyfeatureofanoligopolyisthatthere
A）aremanybuyersandsellers.
B）isoneseller.
C）existsproductdifferentiation.
D）areonlyafewsellers.Answer:
D
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
7）Inanoligopoly
A）thereareonlyafewfirms.
B）thereisnoproductdifferentiation.
C）thereisfreeentryandexit.
D）firms'decisionsareunrelatedtoeachother.Answer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
8）Amarketstructureinwhichasmallnumberofproducerscompeteagainsteachotheris
A）monopolisticcompetition.
B）oligopoly.
C）monopoly.
D）perfectcompetition.
Answer:
B
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
9）Iffirmsinanindustrydifferentiatedtheirproductsandmadeeconomicprofitsintheshort-run,whatothercharacteristicwouldbeimportanttodetermineifthisisanoligopolyoramonopolisticallycompetitivemarket?
A）Thenumberoffirmsinthemarket.
B）Thenumberofclosesubstitutesforthegoodbeingproduced.
C）Thenumberofbuyersinthemarket.
D）Ifthegoodbeingsoldisanormalorinferiorgood.Answer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
New10theditionAACSB:
ReflectiveThinking
10）Thedistinguishingfeaturesofoligopolyare anda intheindustry.
A）barrierstoentry;largenumberoffirms
B）nobarrierstoentry;fewfirms
C）barrierstoentry;fewfirms
D）nobarrierstoentry;largenumberoffirmsAnswer:
C
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
11）Oligopolyis
A）likemonopolybecausetherearebarrierstoentry.
B）likeperfectcompetitionbecauseoligopolyfirmsallsellhomogeneousgoods.
C）likemonopolisticcompetitionbecauseoligopolyfirmsallselldifferentiatedgoods
D）likeperfectcompetitionbecausetherearemanyfirmsintheindustryAnswer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
12）Whichofthefollowingisadistinguishingcharacteristicofoligopoly?
A）Alargenumberoffirmscompete.
B）Noonefirm'sactionsdirectlyaffecttheactionsoftheotherfirms.
C）Firmsarefreetoenterandexittheindustry.
D）Naturalorlegalbarrierspreventtheentryofnewfirms.Answer:
D
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
13）Whichofthefollowingisadefiningcharacteristicofoligopoly?
A）barrierstoentry
B）sellingahomogeneousgood
C）sellingadifferentiatedgood
D）collusionAnswer:
ATopic:
Oligopoly
Skill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
14）Naturaloligopolyisasituationwhere
A）thelevelofdemandcansupportonlyafewfirms.
B）thereisonlyonefirm.
C）thereareonlytwofirms.
D）therearelegalbarrierstoentry.Answer:
A
Topic:
NaturalOligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
15）Anaturaloligopolycanform
A）ifthereareeconomiesofscale
B）onlyiffirmsselladifferentiatedgood
C）onlyiffirmssellahomogeneousgood
D）ifthereisonlyonefirmintheindustryAnswer:
A
Topic:
NaturalOligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
16）Inasmalltownthelevelofdemandiscapableofsupportingonlytwogasstations.Thismarketis
A）anaturalduopoly.
B）perfectlycompetitivebecauseahomogeneousgoodisbeingsold.
C）operatingasifitwasamonopoly.
D）anexampleofmonopolisticcompetition.Answer:
A
Topic:
NaturalOligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
17）Onedifferencebetweenoligopolyandmonopolisticcompetitionisthat
A）amonopolisticallycompetitiveindustryhasfewerfirms.
B）inmonopolisticcompetition,theproductsareidentical.
C）monopolisticcompetitionhasbarrierstoentry.
D）fewerfirmscompeteinoligopolythaninmonopolisticcompetition.Answer:
D
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
18）Whichofthefollowingisadistinguishingcharacteristicofoligopoly?
A）Alargenumberoffirmscompete.
B）Eachfirm'sactionsinfluencetheprofitsofalltheotherfirms.
C）Firmsarefreetoenterandexittheindustry.
D）Naturalbarrierscannotpreventtheentryofnewfirms.Answer:
B
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
19）Consideramarketinwhicheachfirmmustpredictthepriceandquantitydecisionsofotherfirms,aswellashowthosepriceandquantitydecisionswillaffectthefirstfirm'srevenueandprofit.Thismarketisbestdescribedas
A）anoligopoly.
B）monopolisticcompetition.
C）amonopoly.
D）perfectcompetition.
Answer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
Modified10theditionAACSB:
ReflectiveThinking
20）In marketstructure,afirm'soutputdepends .
A）anoligopoly;onlyonitsownmarginalrevenueandmarginalcostcurves
B）amonopolisticallycompetitive;inpartonitscompetitors'priceandquantitydecisions
C）anoligopoly;inpartonitscompetitors'priceandquantitydecisions
D）amonopolisticallycompetitive;onlyonitsmarginalrevenuecurveAnswer:
C
Topic:
OligopolySkill:
Conceptual
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
21）Iffirmsinanindustrymakeoutputdecisionsthatarepartiallybasedonthepriceandoutputdecisionsoftheircompetitors,thenthesefirmsarein markethave withtheotherfirmsinthemarket.
A）anoligopoly;interdependence
B）anoligopoly;nointerdependence
C）anoligopolyormonopolisticallycompetitive;interdependence
D）amonopolisticallycompetitive;nointerdependenceAnswer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
New10theditionAACSB:
ReflectiveThinking
22）Ofthefollowingmarketstructures,whichhasthefewestnumberoffirmscompetingagainsteachother?
A）monopolisticcompetition
B）oligopoly
C）perfectcompetition
D）BothanswersAandCarecorrect.Answer:
B
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
23）Aduopolyoccurswhen .
A）thereareonlytwoproducersofaparticulargoodcompetinginthesamemarket
B）therearetwoproducersoftwogoodscompetinginanoligopolymarket
C）therearenumerousproducersoftwogoodscompetinginacompetitivemarket
D）theoneproduceroftwogoodssellsthegoodsinamonopolymarketAnswer:
A
Topic:
DuopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
24）Aduopolyisaformof
A）perfectcompetition.
B）monopolisticcompetition.
C）oligopoly.
D）monopoly.Answer:
CTopic:
DuopolySkill:
Conceptual
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
Inthefigure,Disthedemandcurvefortaxiridesinatown,andATCistheaveragetotalcostcurveofataxicompany.
25）Inthescenarioabove,themarketis:
A）Anaturalduopoly
B）Anaturaloligopolywiththreefirms
C）Anaturalmonopoly
D）MonopolisticallycompetitiveAnswer:
A
Topic:
DuopolySkill:
Analytical
Questionhistory:
Previousedition,Chapter15AACSB:
AnalyticalSkills
26）Inanoligopolymarket,theHerfindahl-HirschmanIndexisusually:
A）Greaterthan1,000
B）Below1,000
C）Between100and1,000
D）Between200and2,000Answer:
A
Topic:
OligopolySkill:
Recognition
Questionhistory:
Previousedition,Chapter15AACSB:
ReflectiveThinking
27）AnmarketinwhichtheHerfindahl-HirschmanIndex（HHI）is1,250isconsideredtobe
A）anoligopoly.
B）monopolis
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