Which of the following statements is true? A. all market structures yield efficiency B. The perfectly competitive marke...
Homework Answers
Correct statement is D
Monopoly market structure charges a price which is greater than the marginal cost and this is the source of allocative inefficiency. Secondly there is an excess capacity which means production is not done at the minimum efficient scale. This brings in productive inefficiency. Due to these reasons a Monopoly does not yield efficiency.
Add Answer to:
Which of the following statements is true? A. all market structures yield efficiency B. The perfectly competitive marke...
Which of the following statements are true for a competitive market in which all firms have...
Which of the following statements are true for a competitive market in which all firms have upward-sloping marginal cost curves? A) If more firms enter the market, the market price will fall, and so will profits. TRUE B) The marginal cost is always equal to price. TRUE C) The average cost is always equal to the price. FALSE why is B true?? Is it only true in perfectly competitive market? I don't see why it is possible in other types...
Which of these statements regarding the differences between monopoly and a competitive market are true? Choose...
Which of these statements regarding the differences between monopoly and a competitive market are true? Choose one or more: A. There are more firms in a competitive market than in a monopoly. B. A monopolist can earn profits in the long run, but a firm in a perfectly competitive market cannot. C. A monopoly is a price maker, while a competitive firm is a price taker. D. A monopolist will produce less than the output produced in a perfectly competitive market.
11) Which of the following is true for a monopoly and a competitive market? A) A...
11) Which of the following is true for a monopoly and a competitive market? A) A goal of maximizing profit. B) Maximize profit at the same production levels. C) Earn the same economic profits. D) Achieve efficiency in production at the profit-maximizing output. E) Serve the society in the best possible way
4) Which of the following is the best example of a perfectly competitive market? A) farming...
4) Which of the following is the best example of a perfectly competitive market? A) farming B) diamonds C) athletic shoes D) soft drinks E) electricity distribution 5) The Herfindahl-Hirschman Index for a monopoly is A)1 B) 100 C) 10,000. D) undefined. 6) amarket than in a The Herfindahl-Hirschman Index is definitely larger in a A) monopoly; perfectly competitive B) monopolistic competitive; monopoly C) perfectly competitive; monopoly D) perfectly competitive; monopolistic competitive market.
Which of the following statements has to be true in a perfectly competitive market? A) A...
Which of the following statements has to be true in a perfectly competitive market? A) A firm's marginal revenue equals price. B) A firm's average total cost is above price in the long run. C) A firm's average fixed cost rises in the short run. D) A firm's average variable cost is higher than price in the long run. E) Large firms have lower costs than small firms
33. Which of the following statements is true of a perfectly competitive market? a. At equilibrium,...
33. Which of the following statements is true of a perfectly competitive market? a. At equilibrium, it is possible to make someone better off without making someone else worse off. b. The equilibrium price in a competitive market efficiently allocates scarce resources to participants. c. The sum of consumer surplus and producer surplus is not maximized at the equilibrium. d. The equilibrium price is determined by a few large firms in the market. 34. The concept of the invisible hand...
) 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...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
Question 3 1 pt If a market has a continually decreasing long run average total cost...
Question 3 1 pt If a market has a continually decreasing long run average total cost curve, then economists recommend that: a firm be granted legal monopoly status, but not regulated a firm be granted legal monopoly status and regulated if there is a monopoly then the government should break it up. Question 4 1 pts Which of the following statements is TRUE? Consumer surplus is lower in monopoly than in perfect competition A monopolist will always achieve allocative efficiency...
Which of the following statements is true of a monopolistically competitive firm? a. It produces more...
Which of the following statements is true of a monopolistically
competitive firm?
a. It produces more than a perfectly competitive firm.
b. Its profits are protected by significant barriers to
entry.
c. It charges lower prices than a perfectly competitive
firm.
d. It earns positive economic profits in the long run.
e. It faces a downward sloping demand curve.
.
Which of the following statements is false? B D Cost and Price E F Quantity Point B shows the level...
Which of these statements regarding the differences between monopoly and a competitive market are true? Choose one or more: A. There are more firms in a competitive market than in a monopoly. B. A monopolist can earn profits in the long run, but a firm in a perfectly competitive market cannot. C. A monopoly is a price maker, while a competitive firm is a price taker. D. A monopolist will produce less than the output produced in a perfectly competitive market.
4) Which of the following is the best example of a perfectly competitive market? A) farming B) diamonds C) athletic shoes D) soft drinks E) electricity distribution 5) The Herfindahl-Hirschman Index for a monopoly is A)1 B) 100 C) 10,000. D) undefined. 6) amarket than in a The Herfindahl-Hirschman Index is definitely larger in a A) monopoly; perfectly competitive B) monopolistic competitive; monopoly C) perfectly competitive; monopoly D) perfectly competitive; monopolistic competitive market.
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
Question 3 1 pt If a market has a continually decreasing long run average total cost curve, then economists recommend that: a firm be granted legal monopoly status, but not regulated a firm be granted legal monopoly status and regulated if there is a monopoly then the government should break it up. Question 4 1 pts Which of the following statements is TRUE? Consumer surplus is lower in monopoly than in perfect competition A monopolist will always achieve allocative efficiency...
Which of the following statements is true of a monopolistically
competitive firm?
a. It produces more than a perfectly competitive firm.
b. Its profits are protected by significant barriers to
entry.
c. It charges lower prices than a perfectly competitive
firm.
d. It earns positive economic profits in the long run.
e. It faces a downward sloping demand curve.
.
Which of the following statements is false? B D Cost and Price E F Quantity Point B shows the level...
Most questions answered within 3 hours.
-
A crate slides up a frictionless slope. At the end of 3 seconds
its velocity is...
asked 9 minutes ago -
Use the following information to answer the next seven
questions.
Suppose there are three potential states...
asked 5 minutes ago -
If we only have interstitial and substitutional diffusion, then
what do we consider the process of...
asked 21 minutes ago -
You look at yourself in a shiny 9.6-cm-diameter Christmas tree
ball.
If your face is 21.0...
asked 22 minutes ago -
If we were to measure the relaxation time of a muscle after
undergoing tetanus compared to...
asked 22 minutes ago -
4CO(g) + 8H2(g) -----> 3CH4(g) +
CO2(g) + 2H2O(l)
Use the following data as needed to...
asked 25 minutes ago -
without using map
1. Write a C++ program to find out the top 10 words in...
asked 39 minutes ago -
1)Calculate the percent ionization of a
0.330 M solution of hypochlorous
acid.
% Ionization = %...
asked 41 minutes ago -
1a) How many grams of K2SO4 are in 250mL
of 0.11 M K2SO4 solution?
_____ g...
asked 32 minutes ago -
The vapor pressure of a solution containing 38.7 g glycerin
(C3H8O3) in 146.2 g ethanol (C2H5OH)...
asked 37 minutes ago -
A physics major is cooking breakfast when he notices that the
frictional force between the steel...
asked 42 minutes ago -
A cyclohexane (c-hex) solution is prepared by fully dissolving
9.11g of a newly synthesized organic compound...
asked 48 minutes ago