The demand curve for the output of a monopolistic firm is equal to: A. the marginal...
The demand curve for the output of a monopolistic firm is equal to:
A. the marginal revenue curve for the product in question
B. the demand curve for a firm in a perfectly competitive market.
C. the market supply curve for the product in question.
D. the market demand curve for the product in question.
Homework Answers
Answer
The marginal revenue curve for the product in question
Tamanna palli profit-maximizing output is determined with the help of the marginal revenue curve when it intersects the marginal cost curve it is at that level of output the Monopoly earns the maximum profit.
(Please consider giving an upvote if you find it useful)
Add Answer to:
The demand curve for the output of a monopolistic firm is equal
to:
A. the marginal...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
18 20,21,22,23 Question 18 2 pts The marginal revenue received by a firm in a perfectly...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one...
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?...
1. Under the perfectly competitive market structure, the demand curve of an individual firm is [ Select...
1. Under the perfectly competitive market structure, the demand curve of an individual firm is [ Select ] ["downward sloping", "unit-elastic", "perfectly inelastic", "perfectly elastic"] meaning that the demand curve is also the [ Select ] ["Marginal Cost curve", "average cost", "marginal revenue = Marginal costs", "marginal revenue curve"] 2. With a perfectly competitive firm the supply curve is: a) Marginal Product b) the marginal cost curve above the Average fixed Cost curve c) it has...
The demand curve for a perfectly competitive firm options: is upward sloping. is perfectly horizontal. is...
The demand curve for a perfectly competitive firm options: is upward sloping. is perfectly horizontal. is perfectly vertical. maybe downward or upward sloping, depending upon the type of product offered for sale. In the short run, the best policy for a perfectly competitive firm is to Question 17 options: shut down its operation if the price ever falls below average total cost. produce and sell its product as long as price is greater than average variable cost. shut down its...
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand...
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand curve for its product. Statement 2: A monopolist uses the same profit maximization rule that the perfectly competitive firm uses. Both statements (1) and (2) are false. Both statements (1) and (2) are true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Which of the following is TRUE of the model of perfect competition? There are...
QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a...
QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a horizontal supply function. perfectly elastic demand. QUESTION 10 The short-run industry supply curve slopes up because the law of diminishing marginal product applies in the short run. wages increase as the industry increases output. the firms eventually experience diseconomies of scale. the higher price is needed to get more firms to enter the industry.
1.Value of marginal product differs from marginal revenue product in each of the following except __________....
1.Value of marginal product differs from marginal revenue product in each of the following except __________. A. monopoly B. oligopoly C. perfect competition D. monopolistic competition 2.If the firm operates in markets that are not perfectly competitive, what will the price will tend to be? A. Equal to marginal revenue B. Less than marginal revenue C. Greater than marginal revenue D. The same as the competitive market 3.At every level of input, the marginal revenue product of the input equals...
This homework assignment compares a competitive market with a monopolistic market. The market demand curve is...
This homework assignment compares a competitive market with a monopolistic market. The market demand curve is P 122-¼Q. For each firm, marginal oosts are 20 + qi50 and fixed costs are 1 00. We assume first that the market is competitive. Module 8explains the competitive pricing procedure. Wederive the long-run price from the firms' cost curve competitive firms price at long-run minimum average costs. Question: Why is this relation true? Answer: Decreasing marginal utility implies an upward sloping marginal cost...
Use the following demand schedule to determine total revenue and marginal revenue for each possible level...
Use the following demand schedule to determine total revenue and marginal revenue for each possible level of sales. Instructions: Enter your answers as whole numbers. Product Price Quantity Demanded Total Revenue Marginal Revenue NNNNNN a. What can you conclude about the structure of the industry in which this firm is operating? The industry is purely monopolistic. The industry is purely oligopolistic. The industry is monopolistically competitive. The industry is purely competitive. b. Graph the total-revenue and marginal-revenue curves for this...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
Statement 1: For a monopoly firm, the marginal revenue curve is the same as the demand curve for its product. Statement 2: A monopolist uses the same profit maximization rule that the perfectly competitive firm uses. Both statements (1) and (2) are false. Both statements (1) and (2) are true. Statement (1) is true; statement (2) is false. Statement (1) is false; statement (2) is true. Which of the following is TRUE of the model of perfect competition? There are...
QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a horizontal supply function. perfectly elastic demand. QUESTION 10 The short-run industry supply curve slopes up because the law of diminishing marginal product applies in the short run. wages increase as the industry increases output. the firms eventually experience diseconomies of scale. the higher price is needed to get more firms to enter the industry.
This homework assignment compares a competitive market with a monopolistic market. The market demand curve is P 122-¼Q. For each firm, marginal oosts are 20 + qi50 and fixed costs are 1 00. We assume first that the market is competitive. Module 8explains the competitive pricing procedure. Wederive the long-run price from the firms' cost curve competitive firms price at long-run minimum average costs. Question: Why is this relation true? Answer: Decreasing marginal utility implies an upward sloping marginal cost...
Use the following demand schedule to determine total revenue and marginal revenue for each possible level of sales. Instructions: Enter your answers as whole numbers. Product Price Quantity Demanded Total Revenue Marginal Revenue NNNNNN a. What can you conclude about the structure of the industry in which this firm is operating? The industry is purely monopolistic. The industry is purely oligopolistic. The industry is monopolistically competitive. The industry is purely competitive. b. Graph the total-revenue and marginal-revenue curves for this...
Most questions answered within 3 hours.
-
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 1 minute ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 5 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 8 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 20 minutes ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 25 minutes ago -
What are the roles of 3' and 5' untranslated regions in
mRNAs?
asked 26 minutes ago -
A domestic television receives antenna delivers a sky noise
power of -105 dBm to a matched...
asked 25 minutes ago -
What do you think are the chemical reactions involved in the
breathalyzer tests administered to potentially...
asked 40 minutes ago -
A random sample of 120 observations produces a mean of
38.2 from a population with a...
asked 47 minutes ago -
The average area of land burned by forest fires every year in
Canada is 2.5 million...
asked 49 minutes ago -
36. The basic difference between government bureaus and market
firms is that bureaus:
a. can...
asked 49 minutes ago -
java
- A recursive method findR() to search for a number in list
(ArrayList)
- A...
asked 1 hour ago