A monopolist, being the sole seller in a market, is assured of positive economic profits.
Group of answer choices
True
False
A monopolist ,being the sole seller in a market,is assured of positive economic profits. This statement is false.
Monopolist means -A person or company that has a monopoly
Monopoly - A monopoly is an economic market structure where a specific person or enterprise is the only supplier of a particular good.
In order to maximise profits,the monopolist will produce the output level where MR = MC and charge a price equal to MR and MC.
A monopolist, being the sole seller in a market, is assured of positive economic profits. Group...
'Being the only seller in the market, the monopolist can choose any price and quantity it desires. It can therefore price its product as high as it wants.' Evaluate this statement: Is it true or false? Explain your answer using a graph. (2 marks) – Word count 120
Under all the various types of market structures, firms must eventually earn some economic profits for sustainable operations. This statement is Group of answer choices true false
A sole proprietorship has Group of answer choices one owner one source of financing one location one product ..... The benefit of being a limited partner could be Group of answer choices the partner does not have to be involved in company decisions the partner has no liability for company losses the partner is not eligible to receive a portion of the profits ...... A corporation is an artificial person Group of answer choices True False ..... Stockholders can benefit...
A firm in a monopoly market structure always operates at an economic profit. Group of answer choices True False
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic profits. negative economic profits. Positive, zero, or negative economic profits. QUESTION 8 Which of the following statements best describes firms under monopolistic competition? Profits will be positive in the long run. Price always equals average variable cost. In the long run, positive economic profit will be eliminated. Marginal revenue equals minimum average total cost in the short run. QUESTION 9 Which of the following...
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one of the following would not be expected to occur? a. All firms’ economic profits would eventually be driven to zero at equilibrium. b. The equilibrium quantity sold will fall. c. The equilibrium price will fall. d. The supply curve will shift to the right. e. More firms would enter the market. . Which one of the following is not characteristic of a pure monopoly?...
Which of the following statements is true? Group of answer choices Economic profits include opportunity costs. Economic profits ignore opportunity costs. Accounting profits include all of the opportunity costs. Economists consider sunk costs in their decision making
17. In the 1930s and 1940s, the Technicolor company was able to leverage its bargaining power over the move industry because Technicolor was the sole producer of cameras and films needed to produce color films. True or False 18. The market demand curve facing a monopolist is more elastic than the market demand curve facing a monopolistic competitor. Group of answer choices True or False .19. Market power in the United States causes a huge loss of economic efficiency. Group...
A certain monopolist has a positive marginal cost of production. Despite this fact, the monopolist decides to produce a quantity of output that maximizes total revenues. Assume that the marginal revenue curve for this monopolist always has a negative slope. Then the monopolist Group of answer choices is minimizing its profits. produces less output than it would if it maximized profits. produces the same output that it would if it maximized profits. produces an output where marginal revenue is strictly...
A typical firm in a perfectly competitive market made positive economic profits last period. This period, a. market supply will increase. b. market price will rise. c. the firm will produce more. d. the firm's profits will increase.