Homework Answers
This ia a situation of monopsony
monopsony refers to the market in which there is a single buyer and has market power (monopsony power) to affect the price of a good.Monopsony power enables the buyer to purchase a good for less than the price that would prevail in a competitive market.
So first option is correct.
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which is the term for when there is only 1 consu
Which is the term for...
Question 7 (1 point) The term "bilateral monopoly" refers to market situations in which there are...
Question 7 (1 point) The term "bilateral monopoly" refers to market situations in which there are two participants on the selling side. there are two participants on the buying side. there is a monopoly on the selling side and a monopsony on the buying side. a monopoly has evaded antitrust laws
QUESTION 1 Which one of the ways below can a monopolist or oligopolist gain market power?...
QUESTION 1 Which one of the ways below can a monopolist or oligopolist gain market power? O a. No Barriers to entry O b. Government anti-trust legislation O Control of Key Inputs d. Competition QUESTION 2 Which of the cost structures below most likely belong to a natural monopolist? O a. TC = 10Q + 1002 b. TC = 500+ 100 OCTC = 500 + 1003
1. A natural monopoly has an incentive to pad its cost of production under which type...
1. A natural monopoly has an incentive to pad its cost of production under which type of regulation? Group of answer choices Profit regulation. Social regulation. Output regulation. Price regulation. 2. Government failure occurs when Group of answer choices Dealing with a natural monopoly. Public goods are present. Government intervention fails to improve economic outcomes. There is market power. 3. When firms have the ability to restrict output, raise prices, stifle competition, and inhibit innovation, the market failure involved is...
Which one of the ways below can a monopolist or oligopolist gain market power? O a....
Which one of the ways below can a monopolist or oligopolist gain market power? O a. No Barriers to entry ob Government anti-trust legislation O Control of Key Inputs d. Competition QUESTION 2 Which of the cost structures below most likely belong to a natural monopolist? O a. TC = 10Q+ 100% O b. TC=500 + 100 OCTC=500 + 100%
7. In the 3 markets which comprised the classical model, what should we expect if only...
7. In the 3 markets which comprised the classical model, what should we expect if only 1 firm existed? (The firm which hires and produces goods, instead of being in perfect competition, we have a situation where a monopsony in labour exist, and a monopoly in output sale exist). To answer this question, go back and (1) explain what outcome we expect to see from those market types. (2) then discuss how those outcome are different than what we find....
1) Which of the following statements regarding a monopolist is correct? A) A monopolist will only...
1) Which of the following statements regarding a monopolist is correct? A) A monopolist will only produce an output where the demand is perfectly elastic, B) A monopolist will only produce an output where the demand is elastic C) A monopolist will only produce an output where the demand is inelastic. D) A monopolist will only produce an output where the demand is unitary elastic. 2) When is a monopolist's total revenue at a maximum? A) When its marginal revenue...
One night only when traffic on the Hvalfjörður Tunnel is almost there is no one decided...
One night only when traffic on the Hvalfjörður Tunnel is almost there is no one decided to have a free tunnel and no one has to pay a fee to use it. In these circumstances, the Whaleigh Tunnel can be regarded as Choose one: a. Private quality b. Common resource c. Natural Monopoly d. None of this e. Public good
1) The "Profit-Max/Loss-Min/Shutdown Rule" applies to: Group of answer choices Pure Monopoly only Perfect Competition only...
1) The "Profit-Max/Loss-Min/Shutdown Rule" applies to: Group of answer choices Pure Monopoly only Perfect Competition only Most market structures All market structures 3) A firm in a monopoly market structure always operates at an economic profit. Group of answer choices True False 4) Comparing monopoly and competitive market structures, "Deadweight Loss" refers to: Group of answer choices Underground markets developing to supply the monopoly good. Shortages caused by high monopoly pricing. The production gap resulting from under-allocation of resources. Surpluses...
Consider a market in which consumer type x is uniformly distributed on the unit interval. Consumers...
Consider a market in which consumer type x is uniformly distributed on the unit interval. Consumers demand 0 or 1 unit (they buy at most one unit overall in the market). Firm A is located at 0 and firm B at 1. Firms incur constant marginal costs of production c = 1/2. There is mass 1 of consumers. A consumer located at x ∈ [0;1] obtains utility ux = r−x−pA if she buys from firm A; ux = r−(1−x)−pB if...
1- If the price of a good is below the equilibrium price, this will: a- Shift...
1- If the price of a good is below the equilibrium price, this will: a- Shift the demand curve down. b- Create a surplus. c- Create a shortage. d- Have no effect. How would an outward shift in demand affect the market equilibrium? Group of answer choices a- Equilibrium price and quantity would decrease. b- Equilibrium price and quantity would increase c- Equilibrium price would decrease; equilibrium quantity would increase. d- Equilibrium price would increase; equilibrium quantity would decrease. e-...
Question 7 (1 point) The term "bilateral monopoly" refers to market situations in which there are two participants on the selling side. there are two participants on the buying side. there is a monopoly on the selling side and a monopsony on the buying side. a monopoly has evaded antitrust laws
QUESTION 1 Which one of the ways below can a monopolist or oligopolist gain market power? O a. No Barriers to entry O b. Government anti-trust legislation O Control of Key Inputs d. Competition QUESTION 2 Which of the cost structures below most likely belong to a natural monopolist? O a. TC = 10Q + 1002 b. TC = 500+ 100 OCTC = 500 + 1003
Which one of the ways below can a monopolist or oligopolist gain market power? O a. No Barriers to entry ob Government anti-trust legislation O Control of Key Inputs d. Competition QUESTION 2 Which of the cost structures below most likely belong to a natural monopolist? O a. TC = 10Q+ 100% O b. TC=500 + 100 OCTC=500 + 100%
7. In the 3 markets which comprised the classical model, what should we expect if only 1 firm existed? (The firm which hires and produces goods, instead of being in perfect competition, we have a situation where a monopsony in labour exist, and a monopoly in output sale exist). To answer this question, go back and (1) explain what outcome we expect to see from those market types. (2) then discuss how those outcome are different than what we find....
1) Which of the following statements regarding a monopolist is correct? A) A monopolist will only produce an output where the demand is perfectly elastic, B) A monopolist will only produce an output where the demand is elastic C) A monopolist will only produce an output where the demand is inelastic. D) A monopolist will only produce an output where the demand is unitary elastic. 2) When is a monopolist's total revenue at a maximum? A) When its marginal revenue...
One night only when traffic on the Hvalfjörður Tunnel is almost there is no one decided to have a free tunnel and no one has to pay a fee to use it. In these circumstances, the Whaleigh Tunnel can be regarded as Choose one: a. Private quality b. Common resource c. Natural Monopoly d. None of this e. Public good
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