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Market power: Quiz

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Question 1: When a firm has market power it faces a downward-sloping ________.
Supply and demandDemand curveConsumer theoryEconomics

Question 2: The Lerner index and ________ may be used to measure market power.
Market concentrationCollusionCompetition lawHerfindahl index

Question 3: In extreme cases - monopoly and ________ - the firm controls the entire market.
MonopsonyMarket structureOligopolyEconomics

Question 4: When several firms control a significant share of market sales, the resulting market structure is called an ________ or oligopsony.
EconomicsBertrand competitionOligopolyMonopoly

Question 5: Some of the behaviours that firms with market power are accused of engaging in include ________, product tying, and creation of overcapacity or other barriers to entry.
Anti-competitive practicesMonopolyCoercive monopolyPredatory pricing

Question 6: An explicit agreement in an oligopoly to affect market price or output is called a ________.
CollusionCartelEuropean UnionCompetition law

Question 7: As a result, many countries have ________ or other legislation intended to limit the ability of firms to accrue market power.
Competition lawCompetition law theoryUnited States antitrust lawLaw

Question 8: Such legislation often regulates ________ and sometimes introduces a judicial power to compel divestiture.
Corporate financeBond (finance)Capital structureMergers and acquisitions

Question 9: In ________, market power is the ability of a firm to alter the market price of a good or service.
EconomicsMoneyKeynesian economicsHeterodox economics







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