Ans) the correct option is b) must lower price on all previous units to sell an additional unit of output.
In monopoly, the firm is a price maker and sets price above marginal revenue. To sell more it needs to lower its price.
A single-price monopolist red out of Select one: a. finds that its marginal revenue and price...
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
A price searcher Select one: O a. is a seller that has the ability to control to some degree the price of the product itsells O b. faces a horizontal demand curve o c . is a seller that searches for the best location to sell its product. d. is a seller that searches for good employees and pays them a low wage. ous page MacBook Air * oð A SOON
For the perfectly price discriminating monopolist, its curve is the same as its curve Question 10 Not yet answered Points out of 1.00 P Flag question Select one: o a. demand, marginal cost b. marginal cost; average fixed cost c. average variable cost; average total cost d. demand; marginal revenue o e marginal revenue; marginal product of labor Previous page Next page MacBook Air
1. Which of the following is true for a monopolist? a. Its marginal revenue curve is equal to its demand curve. b. It faces many competitors. c. It faces a perfectly elastic demand curve. d. It must lower its price on all of its units in order to sell any additional units. 2. Which of the following is characteristic of a perfectly competitive market? a. Significant barriers to entry. b. Price below marginal revenue c. A large number of firms....
Assume that a single price monopolist has a marginal cost curve given by MC=10+2Q. Further the demand curve that it faces is given by p=250-Q. Compared to a perfectly competitive industry with the same demand and cost equations, the loss in consumer surplus in this market equals: O 1600. 1800. O 1200 O 1400
PLZ HELP???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by lowering the price on the last unit sold only. is constrained in its pricing decisions by the demand curve it faces. faces a demand curve that is more elastic than the demand curve for the industry. can charge whatever price it wants because it is the only firm producing the good 10.Shortly after the turn of the century, U.S. Steel owned most of the iron...
Which of the following is true for a monopolist? It faces a perfectly elastic demand curve. It must lower its price in order to sell any additional units. Its marginal revenue curve is equal to its demand curve. It faces many competitors
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...
monopolist is a price maker. he will determine the quantity of output that will maximize revenue. the monopolistic faces a downward sloping demand curve because he can sell more if he lowers the price. the profit maximizing price and output is where marginal revenue equals marginal cost, then it is extended to the market demand curve to determine what market price corresponds to that quantity. the profit maximization price is c and quantity is q.
PLZ HELP(3 problems)???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by lowering the price on the last unit sold only. is constrained in its pricing decisions by the demand curve it faces. faces a demand curve that is more elastic than the demand curve for the industry. can charge whatever price it wants because it is the only firm producing the good 10.Shortly after the turn of the century, U.S. Steel owned most of the...