O-LevelEconomicsMicroeconomic decision makers2281/11 · May/June 2017 · Q141 Mark

A monopoly takes over an industry from competitive firms. What is not likely to be true about a monopoly compared with a competitive firm?

Amonopoly will earn a higher rate of profit.

Bmonopoly will gain a greater share of the market.

Cmonopoly will offer a wider choice to the consumer.

Dmonopoly will operate on a larger scale of production.

✓ Correct answer

C: monopoly will offer a wider choice to the consumer.

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2017 Paper 1 Variant 1, question 14.

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