Difference Between Monopoly And Monopoly Power


1. The difference between monopoly and monopoly power is that:

A.    monopoly produces a product for which there are no close substitutes, and in monopoly power, firms produce goods which are perfect substitutes.
B.    monopoly has one firm with substantial control over price, while monopoly power implies that a firm has some control over price.
C.    in a monopoly, the market has easy entry, whereas in monopoly power, entry is difficult.
D.    monopoly has one firm serving the market, while in monopoly power, thousands of firms operate.

2. A firm's marginal cost curve above the minimum point on the average variable cost curve coincides with its:

A) short-run total cost curve.
B) long-run average cost curve.
C) short-run supply curve.
D) demand curve.


These multiple choice questions belong to Economics and the 1st question is about the difference between monopoly and monopoly power. The 2nd question is about marginal cost curve above the average variable cost curve.

Total Word Count NA

Download Full Solution


  • HWA

    this is a very good website

  • HWA

    I have 50 questions for the same test your page is showing only 28

  • HWA

    hi can you please help or guide me to answer my assignments. thanks

  • HWA

    hi can anyone help or guide me to my assignments. thanks

  • HWA

  • HWA

    This solution is perfect ...thanks

  • HWA

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA

    Perfect bank of solution. 

  • HWA

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA

    works fine.