Which of the adhering to ideal approximates a pure monopoly? A. The international exadjust industry.B. The Kansas City wwarmth industry.C. The just bank in a small tvery own.D. The soft drink market.

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Which of the following is a characteristic of pure monopoly? A. Close substitute products.B. Barriers to enattempt.C. The lack of market power.D. "Price taking."
Which of the complying with is not a barrier to entry? A. Patents.B. X-inperformance.C. Economies of range.D. Ownership of crucial resources.
A natural monopoly occurs when: A. long-run average prices decrease consistently with the selection of demand also.B. a firm owns or controls some resource essential to production.C. long-run average costs climb consistently as output is boosted.D. economic climates of range are acquired at reasonably low levels of output.
If a nondiscriminating imperfectly competitive firm is selling its 100th unit of output for $35, its marginal revenue: A. might be either greater or much less than $35.B. will certainly also be $35.C. will certainly be much less than $35.D. will certainly be better than $35.
Refer to the diagram. If price is reduced from P1 to P2, complete revenue will: A. rise by A - C.B. rise by C - A.C. decrease by A - C.D. decrease by C - A.
A monopolistic firm has a sales schedule such that it can offer 10 prefabricated garperiods per week at $10,000 each, yet if it restricts its output to 9 per week it deserve to sell these at $11,000 each. The marginal revenue of the tenth unit of sales per week is: A. -$1,000.B. $9,000.C. $10,000.D. $1,000.
The marginal revenue curve for a monopolist: A. is a straight, upsloping curve.B. rises at first, reaches a maximum, and also then declines.C. becomes negative when output rises past some specific level.D. is a straight line, parallel to the horizontal axis.
Refer to the diagram. Demand is reasonably elastic: A. in the P2P1 price range.B. in the 0P1 price selection.C. in the P2P4 price array.D. only at price P2.
Which of the adhering to is characteristic of a pure monopolist"s demand curve? A. Average revenue is less than price.B. Its elasticity coeffective is 1 at all levels of output.C. Price and marginal revenue are equal at all levels of output.D. It is the exact same as the industry demand also curve.
Assuming no adjust in product demand, a pure monopolist: A. ca rise price and boost sales at the same time because it dominates the sector.B. adds an amount to total revenue that is equal to the price of incremental sales.C. have to create in the selection wbelow marginal revenue is negative.D. should lower price to rise sales.
Which of the diagrams correctly portrays a nondiscriminating pure monopolist"s demand (D) and marginal revenue (MR) curves? A. A.B. B.C. C.D. D.
An unregulated pure monopolist will certainly maximize revenues by producing that output at which: A. P = MC.B. P = ATC.C. MR = MC.D. MC = AC.
Refer to the information for a nondiscriminating monopolist. At its profit-maximizing output, this firm"s complete costs will be: A. $300.B. $248.C. $198.D. $126.
Refer to the diagram. At the profit-maximizing level of output, complete revenue will certainly be: A. NM times 0M.B. 0AJE.C. 0EGC.D. 0EHB.
If a pure monopolist is producing at that output where P = ATC, then: A. its financial revenues will be zero.B. it will be realizing losses.C. it will certainly be creating less than the profit-maximizing level of output.D. it will be realizing an financial profit.
At its profit-maximizing output, a pure nondiscriminating monopolist achieves: A. neither fertile effectiveness nor allocative efficiency.B. both productive effectiveness and allocative performance.C. abundant performance but not allocative performance.D. allocative effectiveness yet not abundant efficiency.
X-inefficiency refers to a situation in which a firm: A. is not as technologically progressive as it could be.B. encounters diseconomies of scale.C. stops working to realize all existing economic situations of scale.D. falls short to achieve the minimum average complete prices attainable at each level of output.
In which one of the adhering to industry models is X-inefficiency a lot of likely to be the greatest? A. Pure competition.B. Oligopoly.C. Monopolistic competition.D. Pure monopoly.
The exercise of price discrimicountry is associated via pure monopoly because: A. it deserve to be practiced whenever before a firm"s demand also curve is downsloping.B. monopolists have actually substantial ability to regulate output and price.C. monopolists generally realize economies of range.D. many monopolists market distinguished commodities.
If a monopolist engperiods in price discrimicountry, it will: A. realize a smaller sized profit.B. charge a greater price wright here individual demand is inelastic and also a reduced price where individual demand is elastic.C. create a smaller output than when it did not discriminate.D. charge a competitive price to all its customers.
B. charge a higher price wright here individual demand is inelastic and also a reduced price where individual demand also is elastic.
Refer to the figure. Suppose the graphs represent the demand also for usage of a regional golf course for which tright here is no significant competition (it has a neighborhood monopoly); P denotes the price of a round of golf; Q is the quantity of rounds "sold" each day. If the left graph represents the demand also in the time of weekdays and also the appropriate graph the weekfinish demand also, this profit-maximizing golf course should: A. charge $9 for each round, regardless of the day of the week.B. charge $7 for each round, regardless of the day of the week.C. charge $7 for each round on weekdays and $10 throughout the weekend.D. charge $9 for each round on weekdays and $10 during the weekend.

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A dilemma of regulation is that: A. the regulated price that achieves allocative effectiveness is additionally most likely to bring about persistent economic revenues.B. the regulated price that results in a "fair return" restricts output by more than would unregulated monopoly.C. regulated pricing constantly disputes via the "due process" provision of the Constitution.D. the regulated price that achieves allocative efficiency is additionally most likely to result in losses.
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