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Question 33 0.4 pts Which of the following is evidence of market power? O markup O The demand curve for the firm is horizontal. Output is fixed despite cost changes. Optimal output is less than industry output. O The firm has perfect control over price. Question 34 0.4 pts Refer to the accompanying figure to answer the following questions. Price $100 MC $60 $50 $40 $20 MR 15 25 50 Quantity The consumer surplus that is transferred to the monopolist as a result of the monopolist taking over the market is O $150. o $450. O $100. o $300. O $900.

Question 35 0.4 pts Three examples of solutions to the problems of a monopoly are harnessing the benefits of trade ba __markets monopolies; reducing; regulating competition; increasing; regulating competition; increasing; deregulating competition; reducing; regulating monopolies; increasing; regulating Question 36 0.4 pts Monopolistically competitive firms are troublesome to regulate for all of the following reasons, EXCEPT the government may be forced to subsidize firms to keep them in business. their market and political power renders them virtually untouchable. they comprise a large proportion of the economy it could result in fewer choices for consumers. O regulating prices only magnifies the inefficiency typical of these firms.

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