Which of the following prevents a monopoly from successfully charging any price it wants for its...
Which of the following prevents a monopoly from successfully charging any price it wants for its product? Economies of Scale. Consumer Demand. Patents. All of the above.
Homework Answers
Economies of scale is related to cost and it has nothing to do with price. Patents get to allow you to charge as it gives you the sole right of monopoly. Consumer demand can prevent monopoly to charge a price they want as if the demand is elastic, then it wouldn't be beneficial for a monopoly to rise to the price they want.
Therefore (c) Consumer Demand is the answer to this question
Add Answer to:
Which of the following prevents a monopoly from successfully
charging any price it wants for its...
1. The monopoly market structure Aa Aa A monopoly, unlike a perfectly competitive firm, assumes s...
1. The monopoly market structure Aa Aa A monopoly, unlike a perfectly competitive firm, assumes some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry-that is, other companies cannot enter the market to create competition in that particular industry. Consider the market for computer technology. Patents are granted to inventors of a product or process for a certain number of...
1.) An industry is said to be a natural monopoly when: A. legal barriers limit entry...
1.) An industry is said to be a natural monopoly when: A. legal barriers limit entry into the market. B. economies of scale are present in the market. C. the market demand for the product supplied by a firm is inelastic. D. long-run average cost continues to increase as the quantity of output increases. 2.) A monopoly: A. can increase price and increase output at the same time. B. can charge any price it wants and still sell all of...
Which of the following can create monopolies? Instructions: You may select more than one answer. Click...
Which of the following can create monopolies? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. ? Scarce resources ? Government intervention 7 Economies of scale ? Aggressive business tactics Governments create monopolies through intellectual property rights such as patents and copyrights because: Othey want firms to make profits. they do not understand the losses due to monopoly. they do not...
Which of the following best describes the condition that leads to a natural monopoly? The firm takes anti-compe...
Which of the following best describes the condition that leads to a natural monopoly? The firm takes anti-competitive actions to keep other firms out. Economies of scale are large relative to quantity demanded in a market. The government prohibits entry into an industry A single firm controls an industry because there are very few customers in the industry occurs when the price of a good changes and consumers have an incentive to consume less of the good with a higher...
1A Marginal revenue for a monopoly firm is: not related to the price that the monopolist...
1A Marginal revenue for a monopoly firm is: not related to the price that the monopolist charges for its products. less than the price that the monopolist charges for its products. always greater than the price that the monopolist charges for its products. equal to the price that the monopolist charges for its products. 1B Regarding monopoly firms, our text concludes that: firms which have been granted monopoly status by a government are less-efficient and provide a lower-quality and higher-priced...
A refrigerator monopolist charges a price of 60 and sells40 refrigerators. Its average cost is 20....
A refrigerator monopolist charges a price of 60 and sells40 refrigerators. Its average cost is 20. An antitrust authority decided that if there are five refrigerator suppliers, then price would be equal to average cost. With five suppliers, the price is 30, average cost is also 30, and the number of refrigerators produced is 70. Notice that the average cost of five firms is higher than the average cost of one firm. This is because of the economies of scale....
make launch.sp?course assessmenude_95186 18 course de 78254 QUESTION 5 To prevent monopoly from arising, there must...
make launch.sp?course assessmenude_95186 18 course de 78254 QUESTION 5 To prevent monopoly from arising, there must be a. no close substitutes for the good. b. freedom of entry into the market. c. some barriers that prevent others from entering the market. d. diseconomies of scale. QUESTION 6 When a monopoly engages in price discrimination, which of the following is correct? a. It charges different prices to different consumers and transfers some of the consumer surplus to economic profit. b. Firms...
Which of the following is true of price discrimination? a. It involves charging whatever the market...
Which of the following is true of price discrimination? a. It involves charging whatever the market will bear. b. In a competitive market, prices may have to be higher than in a market where the firm has a monopoly. c. It makes economic sense to charge the same prices in different countries. d. It exists whenever consumers in different countries are charged the same price for the same product, irrespective of variations. e. It cannot help a company maximize its...
Help with 2-4 please. 2. Which of the following is correct? A. A purely competitive firm...
Help with 2-4 please.
2. Which of the following is correct? A. A purely competitive firm is a "Price Taker," while a monopolist is a "Price Maker." B. A purely competitive firm is a "Price Maker," while a monopolist is a "Price Taker." C. Both purely competitive and monopolistic firms are "Price Takers." D. Both purely competitive and monopolistic firms are "Price Makers." 3. Which of the following is not a barrier to entry? A. Economies of Scale B. Ownership...
Which of the following statements about a monopoly firm are true? (Check all that apply.) 1)...
Which of the following statements about a monopoly firm are true? (Check all that apply.) 1) it always experiences economies of scale 2) it is always profitable in the short run 3) its long-run average total cost curve is always downward sloping 4) its marginal revenue is always below the price 5) it is the only seller of a good or service with no close substitutes available
1. The monopoly market structure Aa Aa A monopoly, unlike a perfectly competitive firm, assumes some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry-that is, other companies cannot enter the market to create competition in that particular industry. Consider the market for computer technology. Patents are granted to inventors of a product or process for a certain number of...
Which of the following can create monopolies? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. ? Scarce resources ? Government intervention 7 Economies of scale ? Aggressive business tactics Governments create monopolies through intellectual property rights such as patents and copyrights because: Othey want firms to make profits. they do not understand the losses due to monopoly. they do not...
Which of the following best describes the condition that leads to a natural monopoly? The firm takes anti-competitive actions to keep other firms out. Economies of scale are large relative to quantity demanded in a market. The government prohibits entry into an industry A single firm controls an industry because there are very few customers in the industry occurs when the price of a good changes and consumers have an incentive to consume less of the good with a higher...
make launch.sp?course assessmenude_95186 18 course de 78254 QUESTION 5 To prevent monopoly from arising, there must be a. no close substitutes for the good. b. freedom of entry into the market. c. some barriers that prevent others from entering the market. d. diseconomies of scale. QUESTION 6 When a monopoly engages in price discrimination, which of the following is correct? a. It charges different prices to different consumers and transfers some of the consumer surplus to economic profit. b. Firms...
Help with 2-4 please.
2. Which of the following is correct? A. A purely competitive firm is a "Price Taker," while a monopolist is a "Price Maker." B. A purely competitive firm is a "Price Maker," while a monopolist is a "Price Taker." C. Both purely competitive and monopolistic firms are "Price Takers." D. Both purely competitive and monopolistic firms are "Price Makers." 3. Which of the following is not a barrier to entry? A. Economies of Scale B. Ownership...
Most questions answered within 3 hours.
-
Analysis of 3-ethyl-3-buten-2-ol gave C, 72.13%; H, 11.92%.
Calculate the percent deviation of these results from...
asked 26 seconds ago -
How can I solve the following using a TI83
Claim: Most adults would erase all of...
asked 3 minutes ago -
Which VALS segment is most likely to have a top of the line
brand new (2015)...
asked 4 minutes ago -
Write a program to score the paper-rock-scissor game. Each of
two users types in either P,R...
asked 24 minutes ago -
Calculate the equillibrium constent K for a redox reaction that
has E°cell = -.98 V at...
asked 36 minutes ago -
A concave spherical mirror has a radius of curvature of
magnitude 19.6 cm.
(a) Find the...
asked 38 minutes ago -
3. draw a diagram of the magnetic field:
a. around a long straight wire with a...
asked 36 minutes ago -
If you titrated 30.0 mL of 0.1 M HCl with 0.1 M NaOH, indicate
the approximate...
asked 45 minutes ago -
NADH passes electrons into the electron transport chain. List
the carriers that would receive the electrons,...
asked 53 minutes ago -
A cylindrical cable with a resistivity of 1.6x10-8 Ω·m and cross
sectional area of 3x10-5 m^2...
asked 53 minutes ago -
True or False.
A consumer with convex preferences who is indifferent between
the bundles (5,2) and...
asked 57 minutes ago -
A diamond's index of refraction for red light, 656 nm, is 2.410,
while that for blue...
asked 1 hour ago