Homework Answers
Ans) the correct option is b) equals; is greater than, is ; lies above
In perfectly competitive market, price is equal to marginal revenue and marginal cost. In monopoly, price is greater than marginal revenue.
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estion 9 yet wered its out of For the perfectly competitive firm,price MR; for the monopolistprice re _its marginal...
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive...
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive firm, marginal revenue is Select one: OA. undefined because the firm's demand curve is horizontal. O B. greater than the price. ° C. equal to the change in profit from selling one more unit. O D. less than the price. E. equal to the price. Next page
For the perfectly price discriminating monopolist, its curve is the same as its curve Question 10...
For the perfectly price discriminating monopolist, its curve is the same as its curve Question 10 Not yet answered Points out of 1.00 P Flag question Select one: o a. demand, marginal cost b. marginal cost; average fixed cost c. average variable cost; average total cost d. demand; marginal revenue o e marginal revenue; marginal product of labor Previous page Next page MacBook Air
USE YOUR OWN WORDS FOR YOUR RESPONSE: Explain why the marginal revenue curve for a monopolist lies below its demand cur...
USE YOUR OWN WORDS FOR YOUR RESPONSE: Explain why the marginal revenue curve for a monopolist lies below its demand curve, rather than coinciding with the demand curve, as is the case for a perfectly competitive firm. Is it ever possible for a monopolist's marginal revenue curve to coincide with its demand curve?
Compared to a perfectly competitive industry, a single-price monopoly produces OA less output OB. more output...
Compared to a perfectly competitive industry, a single-price monopoly produces OA less output OB. more output OC. the same output GEO D. some amount that might be more, less, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve E OE some amount that might be more, less, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive...
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive firm is producing 2.500 units and, at the 2,500th unit, the difference between marginal revenue and marginal cost (MR-MC) POsitive, which of the following is true? Select one: A. The firm shouid increase production to maximize profit B. The 2,500th unit costs more to produce than the firm earns in revenue O C. The firm should decrease production to maximize proft D. The inm...
For a perfectly competitive firm, marginal revenue equals marginal cost at 250 units of output. At...
For a perfectly competitive firm, marginal revenue equals marginal cost at 250 units of output. At 250 units, price is greater than average variable cost. It necessarily follows that the Select one: a. marginal cost curve must have an upward-sloping portion and a downward-sloping portion. b. firm must be earning a profit. c. firm should continue to produce in the short run. d. firm should shut down its operation in the short run Next page Seo w
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...
a. 3. For a perfectly competitive firm price is always less than marginal cost b. equal...
a. 3. For a perfectly competitive firm price is always less than marginal cost b. equal to marginal revenue c. always greater than marginal cost d. None MacBook Pro 80 DOO FS 12 19 A 3 $ 4 % 5 6 & 7 00 9 0 E R Т. Y U E 0
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output...
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output levels price exceeds marginal revenue at all output levels price is less than marginal revenue only at the profit-maximizing quantity price equals marginal revenue only at the profit-maximizing quantity price equals marginal revenue at all output levels
price is less than the average variable cost and the marginal cost must be falling O...
price is less than the average variable cost and the marginal cost must be falling O marginal cost is greater than marginal revenue. All this is contingent upon the conditions that the price is less than the average total cost and the marginal cost must be falling D Question 12 5 pts The demand curve of a typical firm in monopolistic competition is: O upward-sloping and less-elastic (steeper) than a perfectly competitive firm's demand curve. O downward-sloping and less-elastic than...
Question 1 Not yet saved Marked out of 1.00 P Flag question For a perfectly competitive firm, marginal revenue is Select one: OA. undefined because the firm's demand curve is horizontal. O B. greater than the price. ° C. equal to the change in profit from selling one more unit. O D. less than the price. E. equal to the price. Next page
For the perfectly price discriminating monopolist, its curve is the same as its curve Question 10 Not yet answered Points out of 1.00 P Flag question Select one: o a. demand, marginal cost b. marginal cost; average fixed cost c. average variable cost; average total cost d. demand; marginal revenue o e marginal revenue; marginal product of labor Previous page Next page MacBook Air
USE YOUR OWN WORDS FOR YOUR RESPONSE: Explain why the marginal revenue curve for a monopolist lies below its demand curve, rather than coinciding with the demand curve, as is the case for a perfectly competitive firm. Is it ever possible for a monopolist's marginal revenue curve to coincide with its demand curve?
Compared to a perfectly competitive industry, a single-price monopoly produces OA less output OB. more output OC. the same output GEO D. some amount that might be more, less, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve E OE some amount that might be more, less, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve
Question 7 Not yet anwed Points out of 1.00 P Flag question If a perfectly competitive firm is producing 2.500 units and, at the 2,500th unit, the difference between marginal revenue and marginal cost (MR-MC) POsitive, which of the following is true? Select one: A. The firm shouid increase production to maximize profit B. The 2,500th unit costs more to produce than the firm earns in revenue O C. The firm should decrease production to maximize proft D. The inm...
For a perfectly competitive firm, marginal revenue equals marginal cost at 250 units of output. At 250 units, price is greater than average variable cost. It necessarily follows that the Select one: a. marginal cost curve must have an upward-sloping portion and a downward-sloping portion. b. firm must be earning a profit. c. firm should continue to produce in the short run. d. firm should shut down its operation in the short run Next page Seo w
a. 3. For a perfectly competitive firm price is always less than marginal cost b. equal to marginal revenue c. always greater than marginal cost d. None MacBook Pro 80 DOO FS 12 19 A 3 $ 4 % 5 6 & 7 00 9 0 E R Т. Y U E 0
Question 15 For a perfectly competitive firm, price is less than marginal revenue at all output levels price exceeds marginal revenue at all output levels price is less than marginal revenue only at the profit-maximizing quantity price equals marginal revenue only at the profit-maximizing quantity price equals marginal revenue at all output levels
price is less than the average variable cost and the marginal cost must be falling O marginal cost is greater than marginal revenue. All this is contingent upon the conditions that the price is less than the average total cost and the marginal cost must be falling D Question 12 5 pts The demand curve of a typical firm in monopolistic competition is: O upward-sloping and less-elastic (steeper) than a perfectly competitive firm's demand curve. O downward-sloping and less-elastic than...
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