Question

Please do all seven thank you!!

Question 2 Inconect The problems of high prices, inefficient production inefficient allocation of resources, and lack of change/innovation are most likely to occur in what market structure? . 0.00 points out of 100 Select one a monopoly Pflag question b. none of the above this combination of problems cannot happen together in one market structure c oligopoly d. monopolistic competition e. perfect competition on 3 incorrect If there are significant barriers to entry, then a firm may do what over the long-run? 000 points out of 100 Pflag question Select one: a charge whatever price they want without fear of it reducing output b. ignore demand • Cearn economic profits X X d. charge a price above average cost without fear of price competition Decanda

Answer 1

tens (2) Ans: (9) Rent Seeking activities do not promote the innovation in Monopoly Market. (3) Ansi (d) competition compel fiom to charge the price canal to the average cost of production. 4) Ans: (6) economies of scale occurs when firm raises the level of output sus clecticity is an example of this. 3) Ans! (6) . when MR is negative, the total revenue decreases. 10) Ans: (d) Patent and copyright would cause the entry barriers. Ans: (a) under the berfect competition, etre from tends to Change Low price and produces higher output. (14) Ans: (a) Price firm charge depends on the demand or nature of demand firm can had charge arbitrary price. 16)