{"id":52191,"date":"2024-04-15T23:35:45","date_gmt":"2024-04-15T23:35:45","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=52191"},"modified":"2024-04-15T23:35:45","modified_gmt":"2024-04-15T23:35:45","slug":"according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/","title":{"rendered":"According to M. Kalecki, the true measure of the degree of monopoly power is the"},"content":{"rendered":"

[amp_mcq option1=”Ratio between price and marginal cost” option2=”Extent of monopolistic profit enjoyed by the monopolist” option3=”Cross-elasticity of demand for the product of the monopolist” option4=”Price charged by the monopolist minus marginal cost of production” correct=”option1″]<\/p>\n

The correct answer is: A. Ratio between price and marginal cost<\/strong><\/p>\n

According to M. Kalecki, the true measure of the degree of monopoly power is the ratio between price and marginal cost. This is because the higher the ratio, the more the monopolist is able to charge a price above marginal cost, and the greater the monopolist’s profits will be.<\/p>\n

Option B is incorrect because the extent of monopolistic profit enjoyed by the monopolist is not a direct measure of the degree of monopoly power. A monopolist can enjoy high profits even if it has a low degree of monopoly power, if its costs are low.<\/p>\n

Option C is incorrect because the cross-elasticity of demand for the product of the monopolist is a measure of the responsiveness of demand for the monopolist’s product to changes in the price of a substitute product. It is not a direct measure of the degree of monopoly power.<\/p>\n

Option D is incorrect because the price charged by the monopolist minus marginal cost of production is a measure of the monopolist’s profit margin. It is not a direct measure of the degree of monopoly power.<\/p>\n","protected":false},"excerpt":{"rendered":"

[amp_mcq option1=”Ratio between price and marginal cost” option2=”Extent of monopolistic profit enjoyed by the monopolist” option3=”Cross-elasticity of demand for the product of the monopolist” option4=”Price charged by the monopolist minus marginal cost of production” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-52191","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\nAccording to M. Kalecki, the true measure of the degree of monopoly power is the<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"According to M. Kalecki, the true measure of the degree of monopoly power is the\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=”Ratio between price and marginal cost” option2=”Extent of monopolistic profit enjoyed by the monopolist” option3=”Cross-elasticity of demand for the product of the monopolist” option4=”Price charged by the monopolist minus marginal cost of production” correct=”option1″]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T23:35:45+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"According to M. Kalecki, the true measure of the degree of monopoly power is the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/","og_locale":"en_US","og_type":"article","og_title":"According to M. Kalecki, the true measure of the degree of monopoly power is the","og_description":"[amp_mcq option1=”Ratio between price and marginal cost” option2=”Extent of monopolistic profit enjoyed by the monopolist” option3=”Cross-elasticity of demand for the product of the monopolist” option4=”Price charged by the monopolist minus marginal cost of production” correct=”option1″]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T23:35:45+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/","url":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/","name":"According to M. Kalecki, the true measure of the degree of monopoly power is the","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T23:35:45+00:00","dateModified":"2024-04-15T23:35:45+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/according-to-m-kalecki-the-true-measure-of-the-degree-of-monopoly-power-is-the\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Economics","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/economics\/"},{"@type":"ListItem","position":4,"name":"According to M. Kalecki, the true measure of the degree of monopoly power is the"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/52191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=52191"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/52191\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=52191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=52191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=52191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}