Homework Answers
Answer
Option d
the monopolist charges a price equal to the wiliness to pay so the
marginal revenue curve and the demand curve is the same for the
monopolist.
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For the perfectly price discriminating monopolist, its curve is the same as its curve Question 10...
estion 9 yet wered its out of For the perfectly competitive firm,price MR; for the monopolistprice re _its marginal...
estion 9 yet wered its out of For the perfectly competitive firm,price MR; for the monopolistprice re _its marginal revenue curve, the monopolist's demand curve_ MR. The perfectly competitive firm's demand its marginal revenue curve. - Flag Select one: O a. less than greater than, lies below, lies above b. cquals; is greater than; is; lies above O c.equals, is less than is; lies below o d greater than, equals; lies above is Previous page Next page MacBook Air o...
A single-price monopolist red out of Select one: a. finds that its marginal revenue and price...
A single-price monopolist red out of Select one: a. finds that its marginal revenue and price are the same for the first unit of the good itsells. O b. must lower price on all previous units to sell an additional unit of output c. is a price scarcher o d necessarily faces a perfectly inelastic demand curve. ution Previous page Next page MacBook Air
3. (Figure: Price-Discriminating Monopolist 2) The perfectly price-discriminating monopolist in this diagram will produce units of...
3. (Figure: Price-Discriminating Monopolist 2) The perfectly price-discriminating monopolist in this diagram will produce units of output, and a single price monopolist would produce units of output. Consumer surplus under a perfectly price discriminating monopolist is dollars less than under a single-price monopolist. While, perfect price discrimination results in reduced consumer surplus, it (increases/decreases) producer surplus and ultimately results in deadweight loss that is (less than/equal to greater than the amount of deadweight loss found in a perfectly competitive market....
Question 5 A price searcher Not yet answered Points out of 1.00 Select one: O a....
Question 5 A price searcher Not yet answered Points out of 1.00 Select one: O a. is a seller that has the ability to control to some degree the price of the product itsells. b. faces a horizontal demand curve. P Flag question c. is a seller that searches for the best location to sell its product. . is a seller that searches for good employees and pays them a low wage. o d Previous page Next MacBook Air
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive...
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive firm, marginal revenue is Select one: OA. undefined because the firm's demand curve is horizontal. O B. greater than the price. ° C. equal to the change in profit from selling one more unit. O D. less than the price. E. equal to the price. Next page
A monopoly exhibits resource allocative efficiency if it Select one: O a. is a perfectly price-discriminating...
A monopoly exhibits resource allocative efficiency if it Select one: O a. is a perfectly price-discriminating monopolist. O b. is a single-price monopolist. C. engages in second-degree price discrimination. O d. engages in third-degree price discrimination MacBook Air
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive...
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive firm is producing 2.500 units and, at the 2,500th unit, the difference between marginal revenue and marginal cost (MR-MC) POsitive, which of the following is true? Select one: A. The firm shouid increase production to maximize profit B. The 2,500th unit costs more to produce than the firm earns in revenue O C. The firm should decrease production to maximize proft D. The inm...
Question 46 2p Which of the following is true of the profit, earned by a monopolist?...
Question 46 2p Which of the following is true of the profit, earned by a monopolist? Profit is maximized along the inelastic portion of the demand curve. Normal profit is ensured where price is equal to average total cost. Normal profit is ensured where marginal cost exceeds average revenue. Economic profit is made where average variable cost equals marginal revenue. Profit is maximized where marginal revenue exceeds marginal cost. Question 47 2 pts A non-price discriminating monopolist's demand curve: is...
please check my answers (2) As a natural monopoly production, its constantly falls throughout the range...
please check my answers (2)
As a natural monopoly production, its constantly falls throughout the range of demand Ouest5 Not yet anvwered Points out of 1.00 P Flag question Select one: A decreases marginal cost B. decreases: long-run average cost • Cincreases: long run average cost Dncreases: sunk cost Monopolistically competitive firms have some market power because Ost 6 Not yet answered Points out of 1.00 Flag question Select one: A each firm cannot set their own price B. there...
Question 6 A seller that has the ability (to some degree) to control the price of...
Question 6 A seller that has the ability (to some degree) to control the price of the product it sells is called a price Not yet answered Points out of 1.00 P Flag question Select one: a. breaker O b. searcher o c. taker. O d. twister. Previous page MacBook Air
estion 9 yet wered its out of For the perfectly competitive firm,price MR; for the monopolistprice re _its marginal revenue curve, the monopolist's demand curve_ MR. The perfectly competitive firm's demand its marginal revenue curve. - Flag Select one: O a. less than greater than, lies below, lies above b. cquals; is greater than; is; lies above O c.equals, is less than is; lies below o d greater than, equals; lies above is Previous page Next page MacBook Air o...
A single-price monopolist red out of Select one: a. finds that its marginal revenue and price are the same for the first unit of the good itsells. O b. must lower price on all previous units to sell an additional unit of output c. is a price scarcher o d necessarily faces a perfectly inelastic demand curve. ution Previous page Next page MacBook Air
3. (Figure: Price-Discriminating Monopolist 2) The perfectly price-discriminating monopolist in this diagram will produce units of output, and a single price monopolist would produce units of output. Consumer surplus under a perfectly price discriminating monopolist is dollars less than under a single-price monopolist. While, perfect price discrimination results in reduced consumer surplus, it (increases/decreases) producer surplus and ultimately results in deadweight loss that is (less than/equal to greater than the amount of deadweight loss found in a perfectly competitive market....
Question 5 A price searcher Not yet answered Points out of 1.00 Select one: O a. is a seller that has the ability to control to some degree the price of the product itsells. b. faces a horizontal demand curve. P Flag question c. is a seller that searches for the best location to sell its product. . is a seller that searches for good employees and pays them a low wage. o d Previous page Next MacBook Air
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive firm, marginal revenue is Select one: OA. undefined because the firm's demand curve is horizontal. O B. greater than the price. ° C. equal to the change in profit from selling one more unit. O D. less than the price. E. equal to the price. Next page
A monopoly exhibits resource allocative efficiency if it Select one: O a. is a perfectly price-discriminating monopolist. O b. is a single-price monopolist. C. engages in second-degree price discrimination. O d. engages in third-degree price discrimination MacBook Air
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive firm is producing 2.500 units and, at the 2,500th unit, the difference between marginal revenue and marginal cost (MR-MC) POsitive, which of the following is true? Select one: A. The firm shouid increase production to maximize profit B. The 2,500th unit costs more to produce than the firm earns in revenue O C. The firm should decrease production to maximize proft D. The inm...
Question 46 2p Which of the following is true of the profit, earned by a monopolist? Profit is maximized along the inelastic portion of the demand curve. Normal profit is ensured where price is equal to average total cost. Normal profit is ensured where marginal cost exceeds average revenue. Economic profit is made where average variable cost equals marginal revenue. Profit is maximized where marginal revenue exceeds marginal cost. Question 47 2 pts A non-price discriminating monopolist's demand curve: is...
please check my answers (2)
As a natural monopoly production, its constantly falls throughout the range of demand Ouest5 Not yet anvwered Points out of 1.00 P Flag question Select one: A decreases marginal cost B. decreases: long-run average cost • Cincreases: long run average cost Dncreases: sunk cost Monopolistically competitive firms have some market power because Ost 6 Not yet answered Points out of 1.00 Flag question Select one: A each firm cannot set their own price B. there...
Question 6 A seller that has the ability (to some degree) to control the price of the product it sells is called a price Not yet answered Points out of 1.00 P Flag question Select one: a. breaker O b. searcher o c. taker. O d. twister. Previous page MacBook Air
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