8-monopoly - Custom Scholars
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8-monopoly

question
The monopolist faces
answer
the entire market demand curve
question
to maximize its profits , a monopoly should choose a price where demand is
answer
price where demand is
question
when marginal revenue is zero for a monopolist facing a downward sloping straight line demand curve, the price elasticity of demand is
answer
equal to 1
question
Both a perfectly competitive firm and a monoplist
answer
max profit by setting marginal cost equal to marginal revenue
question
suppose a monopolists demand curve lies below its average variable cost curve. the firm will
answer
shut down
question
which of the following statements best describes the price,output, and profit conditions of monopoly?
answer
in the long run, positive economics profit will be earned.
question
which of the following is true for monopolist.
answer
all answers above are correct
question
although a monopoly can charge any price it wishes, it chooses
answer
the price that maxs profits
question
as shown in exhibit 8-11, the profit max price for the monopolist is
answer
OP4
question
as shown in exhibit 8-11, if the monopolist produces the profit max output, total revenue is the rectangular area
answer
OQ2 DP4
question
as shown in exhibit 8-11, the monopolist total cost is which of the following areas
answer
none
question
the profit max output for monopolist in exhibit 8-11 is
answer
OQ2
question
as shown in exhibit 8-11, if the monopolist produces the profit max output, total revenue is the rectangular area
answer
OQ2 DP4
question
8-11, the monopolist profit max price quantity point is
answer
d
question
suppose a monopolist charges a price corresponding to the intersection of marginal cost and marginal revenue. if the price is between its average variable cost and average total cost curve, the firm will.
answer
Stay in operation in short run, shutdown in long run if demand stays the same
question
the act of buying a commodity in one market at a lower price and selling it in another market at a higher price is known as
answer
arbitrage
question
one necessary condition for effective price discrimination is
answer
diff in price elasticity of demand among buyers
question
an example of price discrimination is the price charged for
answer
theater tickets that offer lower prices for children
question
suppose a monopolist and a perfectly competitive firm have the same cost curves, the monopolistic firm would
answer
charge a higher price than the perfectly competitive firm
question
two markets for football games
answer
alumni
1 of 20
question
The monopolist faces
answer
the entire market demand curve
question
to maximize its profits , a monopoly should choose a price where demand is
answer
price where demand is
question
when marginal revenue is zero for a monopolist facing a downward sloping straight line demand curve, the price elasticity of demand is
answer
equal to 1
question
Both a perfectly competitive firm and a monoplist
answer
max profit by setting marginal cost equal to marginal revenue
question
suppose a monopolists demand curve lies below its average variable cost curve. the firm will
answer
shut down
question
which of the following statements best describes the price,output, and profit conditions of monopoly?
answer
in the long run, positive economics profit will be earned.
question
which of the following is true for monopolist.
answer
all answers above are correct
question
although a monopoly can charge any price it wishes, it chooses
answer
the price that maxs profits
question
as shown in exhibit 8-11, the profit max price for the monopolist is
answer
OP4
question
as shown in exhibit 8-11, if the monopolist produces the profit max output, total revenue is the rectangular area
answer
OQ2 DP4
question
as shown in exhibit 8-11, the monopolist total cost is which of the following areas
answer
none
question
the profit max output for monopolist in exhibit 8-11 is
answer
OQ2
question
as shown in exhibit 8-11, if the monopolist produces the profit max output, total revenue is the rectangular area
answer
OQ2 DP4
question
8-11, the monopolist profit max price quantity point is
answer
d
question
suppose a monopolist charges a price corresponding to the intersection of marginal cost and marginal revenue. if the price is between its average variable cost and average total cost curve, the firm will.
answer
Stay in operation in short run, shutdown in long run if demand stays the same
question
the act of buying a commodity in one market at a lower price and selling it in another market at a higher price is known as
answer
arbitrage
question
one necessary condition for effective price discrimination is
answer
diff in price elasticity of demand among buyers
question
an example of price discrimination is the price charged for
answer
theater tickets that offer lower prices for children
question
suppose a monopolist and a perfectly competitive firm have the same cost curves, the monopolistic firm would
answer
charge a higher price than the perfectly competitive firm
question
two markets for football games
answer
alumni
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