Homework Answers
Monopoly is a market type in which this is -
1.one seller and large number of buyers .
2.there is barrier to entry and exit in the market.
3.one firm or the owner has the Exclusive ownership of the resource .
4.economies of scale is generated and that is why this barrier to entry also present.
So the answer is option C
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1.
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1.
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Raven, Inc. has a division that manufactures a component that sells for $195 and has a variable cost of $45. Another division of the company wants to purchase the component. Fixed cost per unit of the component is $21. What is the minimum transfer price if the division is operating below its capacity? XA. $195 *B. $45 O C. $66 OD. $21 Governments often have the potential to influence whether firms are monopolies. How might the government affect...
A monopoly like a perfectly competitive firm has some market power. Thus, it can raise its price, within limits, without quantity demanded falling tower. The main way monopolies retain their market power is through barriers to entry, which prevent other companies from entering monopolized markets and competing for customers. Consider the market for a statewide lottery. The government has licensed itself as the only entity allowed to sell tickets for this lottery. It is impossibl for any private firm to...
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the public interest; (b) in the public interest?
2. Being locked in to a product or technology is only
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