What this practice covers
These questions are drawn from past AQA A-Level papers and filtered to oligopoly. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
Start practising Paper 3 MCQs →
What examiners see students get wrong here
These are the errors that cost marks on oligopoly, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Defining oligopoly by the number of firms rather than by interdependence.
- Saying oligopolists never compete on price; they do, in price wars and against new entrants.
- Confusing the Nash equilibrium with the best joint outcome; the point of the dilemma is that they differ.
- Treating the concentration ratio as proof of uncompetitive behaviour, ignoring contestability.
- Saying a cartel is stable, the incentive to cheat is built into it.
- Drawing the kinked demand curve without the discontinuity in MR, which is the entire point.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Oligopoly revision notes.