Question

abes X X 1 Entry Level Llex Theron O QUE FINAL EXS X 69 Cengage Digital sign in Union unioncc instructure.com/courses/31588/quizzes/105637/take Output 20 40 Refer to the above graph, showing the Total Revenue Total Cost approach of determining profit, loss, & break-even under pure competition. At which range of output would the firm maximize pront__? At which output levels would it break even ? o maximize profit at output 440; breakeven at output 320. maximize profit at output 100: breakeven at output 440 only o maximize pront at output 100: breakeven at output 100 only o maximize profit at output 320;breakeven at output 100 or 440 Question 29 0.6 pts A monopoly, unlike a perfectly competitive firm, has some market power. Consider the market for diamonds. Throughout much of the twentieth century, South Africa's De Beers group was viewed as a monopoly, because it controlled a large percentage of diamond production and sales. Which of the following best explains the barriers to entry that existed in this scenario? Economies of scale Legal barriers Product differentiation exclusive ownership of a vital resource.

Answer 1

Answer for Question 28 is D or last one

Breakeven point for the firm is 100 and second breakeven point is 440 output level and the firm makes maximum profits at 320 output because the vertical distance between TR and TC curves is maximum

Answer for question is 29 is D ( exclusive ownership over vital resources)

Control over natural resources that are critical to the production of a good is one source of monopoly power. Single ownership over a resource gives the owner of the resource the power to raise the market price of a good over marginal cost without losing customers to competitors.