Homework Answers
If it is not profitable for more than one firm to be in an industry, we have an example of
Answer-B. Monopoly due to economies of scale.
This is also called as natural monopoly. Due to the size the firm sometimes a monopolist enjoys cost advantages. The cost advantages are called as economies of scale. A natural monopoly arises because of economies of scale. In a natural monopoly only one firm can produce the socially optimal quantity at a lowest cost because of economies of scale.
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Ifit is not profitable for more than one firm to be in an industry, we have...
PLZ HELP(3 problems)???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by...
PLZ HELP(3 problems)???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by lowering the price on the last unit sold only. is constrained in its pricing decisions by the demand curve it faces. faces a demand curve that is more elastic than the demand curve for the industry. can charge whatever price it wants because it is the only firm producing the good 10.Shortly after the turn of the century, U.S. Steel owned most of the...
Economies of scale will lead to only one firm in the industry because A. by increasing...
Economies of scale will lead to only one firm in the industry because A. by increasing output a firm is able to lower the cost per unit and change lower prices driving smaller firms out of business. B. one firm has an average cost curve, which has shifted below the average cost curves of its competitors. C. of government licensing. D. there are governmental entry restrictions.
PLZ HELP???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by lowering...
PLZ HELP???? QUESTION 7 A monopolist can usually keep price
equal to marginal revenue by lowering the price on the last unit
sold only. is constrained in its pricing decisions by the demand
curve it faces. faces a demand curve that is more elastic than the
demand curve for the industry. can charge whatever price it wants
because it is the only firm producing the good
10.Shortly after the turn of the century, U.S. Steel owned most
of the iron...
This industry is most susceptible to collusion: Perfect Competition Monopolistic Competition Pure Monopoly More than one...
This industry is most susceptible to collusion: Perfect Competition Monopolistic Competition Pure Monopoly More than one of these is correct Oligopoly
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...
1, If there is only one supplier in an industry, then the firm is _______________. a.an...
1, If there is only one supplier in an industry, then the firm is _______________. a.an Oligopoly b.part of Pure Competition c.part of Monopolistic Competition d.the industry 2. An example of a(n) ______________ is allowing less-efficient workers to be employed and/or paid more than a market rate. a.profit maximization b.operating efficiency c.operating inefficiency d.loss minimization
The diagram on the right shows a firm (industry) that earns a normal return to capital...
The diagram on the right shows a firm (industry) that earns a
normal return to capital if organized competitively. Please answer
all questions
e market place is P under competition. We assume at first hat marginal cost is fixed at $40 per unit of output and there are no economies or diseconomies of scale revenue for the competitive firm, assuming free entry, is S(Enter your response as an integer.) cost to the competitive firm, assuming free entry, is $ (Enter...
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...
Part 1 For firms encountering diseconomies of scale, output is, on average: A) more costly as...
Part 1 For firms encountering diseconomies of scale, output is, on average: A) more costly as the firm expands. B) less costly as the firm expands. C) increasingly specialized if output falls. D) constant unless technology advances. Part 2 If a firm faces economies of scale, as output and capacity expands the firm becomes: A) less profitable. B) less efficient C) more vulnerable to competition. D) more efficient. Part 3 If a firm encounters diseconomies of scale, each one percent...
#7 #13-15 #16 #22 #26 please O Resources have higher costs in the short run than...
#7
#13-15
#16
#22
#26
please
O Resources have higher costs in the short run than in the long run. . In the short run, at least one resource is foed in the long run, all resources are variable There are diminishing returns in the short run, but increasing returns in the long run. In the long run all resources are variable in the short run all resources are fred rrect Question 7 0/2 pts Economies of scale may arise...
PLZ HELP???? QUESTION 7 A monopolist can usually keep price
equal to marginal revenue by lowering the price on the last unit
sold only. is constrained in its pricing decisions by the demand
curve it faces. faces a demand curve that is more elastic than the
demand curve for the industry. can charge whatever price it wants
because it is the only firm producing the good
10.Shortly after the turn of the century, U.S. Steel owned most
of the iron...
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...
The diagram on the right shows a firm (industry) that earns a
normal return to capital if organized competitively. Please answer
all questions
e market place is P under competition. We assume at first hat marginal cost is fixed at $40 per unit of output and there are no economies or diseconomies of scale revenue for the competitive firm, assuming free entry, is S(Enter your response as an integer.) cost to the competitive firm, assuming free entry, is $ (Enter...
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...
#7
#13-15
#16
#22
#26
please
O Resources have higher costs in the short run than in the long run. . In the short run, at least one resource is foed in the long run, all resources are variable There are diminishing returns in the short run, but increasing returns in the long run. In the long run all resources are variable in the short run all resources are fred rrect Question 7 0/2 pts Economies of scale may arise...
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