Compare the price, quantity, and ATC of a monopoly with a perfectly competitive firm. Who is...
Compare the price, quantity, and ATC of a monopoly with a perfectly competitive firm. Who is more efficient and why?
Homework Answers
A competitive firm faces a horizontal demand curve so P= MR, In monopoly P>MR, it faces a downward sloping demand curve so price is higher and output is lower is monopoly.
In long run perfectly competitive firm produces at a point where ATC is lowest, while this is not the case with monopoly, so perfect competition is effecient as the producer produces at a lowest ATC
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Compare the price, quantity, and ATC of a monopoly with a
perfectly competitive firm. Who is...
Graph a Monopoly, make sure to include the Price, Quantity, Demand, MR, MC, ATC, and Profit...
Graph a Monopoly, make sure to include the Price, Quantity, Demand, MR, MC, ATC, and Profit Compare the price, quantity, and ATC of a monopoly with a perfectly competitive firm. Who is more efficient and why?
please explain! Price MC ATC AVC Quantity (per period) 2. (Figure: A Perfectly Competitive Firm in...
please explain!
Price MC ATC AVC Quantity (per period) 2. (Figure: A Perfectly Competitive Firm in the Short Run) Use Figure: A Perfectly Competitive Firm in the Short Run. The firm will produce in the short run if the price is greater than or equal to: A) F B) E C) N D) P.
Explain why a monopoly is a price maker but a perfectly competitive firm is a price...
Explain why a monopoly is a price maker but a perfectly competitive firm is a price taker.
Is this correct :) Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive...
Is this correct :)
Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive Firms Monopoly 8. Prof. Camara/Assignment/P-Micro/Winter_2020 Single Many Number of Sellers Yes, Comparatively Easy Yes, Difficult Free entry/exit Normal Zero Long-run economic profits Identical Differentiated The products the firms sell None, price taker Yes Firms has market power? Downward-sloping Horizontal Total Surplus is maximized? Zpro Low Barriers Deadweight-Loss positive or zero?
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive...
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive firm depicted is most accurately represented by the segment: O O O O Price, cost Quantity Based on the graph above a perfectly competitive firm would never continue operations in short run if the price dropped to which segment of the marginal cost curve? O CE O AD O AC Осо
) Looking at differences between a single firm within a perfectly competitive market and a monopoly,...
) Looking at differences between a single firm within a perfectly competitive market and a monopoly, which of the following is true? a) A single firm within a perfectly competitive market, sees the entire downward sloping demand curve of the perfectly competitive market. b) A single firm within the perfectly competitive market can set its price at any level and will not see a change in the demand. c) Because it is the only producer in the market, the monopoly...
For a perfectly competitive firm in the short run, if the firm produces the quantity at...
For a perfectly competitive firm in the short run, if the firm produces the quantity at which: \ options: 1) P > ATC, then the firm is profitable. 2) P < ATC, then the firm breaks even. 3) P = ATC, then the firm incurs a loss. 4) P < ATC, then the firm is profitable.
А. is a price taker. O monopolistically competitive O monopoly O oligopolistic O perfectly competitive firm
А. is a price taker. O monopolistically competitive O monopoly O oligopolistic O perfectly competitive firm
3. The following graph illustrates a monopoly market. MC = ATC Output The government intervenes in...
3. The following graph illustrates a monopoly market. MC = ATC Output The government intervenes in the market and regulates the monopolist to charge the perfectly competitive market price. That is, regulation forces the monopoly firm to behave as if it was a perfectly competitive firm. a. What price would the firm charge under regulation; i.e. what is the perfectly competitive market price be and why? (10 points) b. What output would the firm produce under regulation; i.e. what is...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
please explain!
Price MC ATC AVC Quantity (per period) 2. (Figure: A Perfectly Competitive Firm in the Short Run) Use Figure: A Perfectly Competitive Firm in the Short Run. The firm will produce in the short run if the price is greater than or equal to: A) F B) E C) N D) P.
Is this correct :)
Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive Firms Monopoly 8. Prof. Camara/Assignment/P-Micro/Winter_2020 Single Many Number of Sellers Yes, Comparatively Easy Yes, Difficult Free entry/exit Normal Zero Long-run economic profits Identical Differentiated The products the firms sell None, price taker Yes Firms has market power? Downward-sloping Horizontal Total Surplus is maximized? Zpro Low Barriers Deadweight-Loss positive or zero?
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive firm depicted is most accurately represented by the segment: O O O O Price, cost Quantity Based on the graph above a perfectly competitive firm would never continue operations in short run if the price dropped to which segment of the marginal cost curve? O CE O AD O AC Осо
А. is a price taker. O monopolistically competitive O monopoly O oligopolistic O perfectly competitive firm
3. The following graph illustrates a monopoly market. MC = ATC Output The government intervenes in the market and regulates the monopolist to charge the perfectly competitive market price. That is, regulation forces the monopoly firm to behave as if it was a perfectly competitive firm. a. What price would the firm charge under regulation; i.e. what is the perfectly competitive market price be and why? (10 points) b. What output would the firm produce under regulation; i.e. what is...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
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