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Regulation of coal falls solely under provincial jurisdiction because it is a natural resource.
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- The barrier to entry that protects natural monopoly is Question 2 options: Better products. Large economies of scale. Large economies of scale. None of the above.Suppose regulators are deciding how the local electric company is allowed to set prices. Demand for electricity is given by P = 40-Q, where Q is millions of megawatt hours demanded annually. The electric company is allowed to operate as a monopoly. The marginal cost of the company is $2, while the fixed cost is $150 million annually. (a) If the price of the electric company was not regulated, what price would it set? What would be its profits and the deadweight loss? (b) Knowing the fixed cost, demand curve, and marginal cost of the utility, the regulator decides to set a linear price that allows the electric utility to break even. What is this price? What would be the deadweight loss? (c) Suppose that demand for electricity varies over the course of the day and is most inelastic in the middle of the day. Illustrate how the regulator could use this information to improve on the outcome in (b)? Would there be any challenges that would prevent regulators from using the prices you…Under patent protection, a firm has a monopoly in its production. Market demand is estimated to be P = 400 – 0.2Q. The firm’s economic costs are given by ATC = MC = $80 per unit. Determine the firm’s optimal output, price and economic profit.
- Patents, copyrights, and trademarks are all mechanisms to promote screening or signaling. intellectual property rights. investment in human capital. Oon-the-job training.De Beers Group, is considered monopoly because it controlled a large percentage of diamond production and sales. Which barriers to entry appropriately explains why this monopoly exists? Group of answer choices Control of a Physical Resource Legal Monopoly Natural MonopolyTrue or False: Monopolies often lead to higher prices and reduced consumer choice.
- When selling downloadable software, e-books, and music streaming platforms, the marginal cost of making one more unit is basically zero. The average total cost is currently $1 per book. If a monopoly is operating in this market and is maximizing profits, marginal revenue is Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Greater than $0 Less than $0 $0 d $1 e There is not enough information to answer this question.map/ihdex.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.m.. Because of their unique expertise with explosives, the Zambino brothers have long enjoyed a monopoly of the European market for public fireworks displays for crowds above a quarter of a million. The annual demand for these fireworks displays is P= 160 - 1Q. The marginal cost of putting on a fireworks display is 55. A family dispute broke the firm in two. Alfredo Zambino now runs one firm and Luigi Zambino runs the other. They still have the same marginal costs, but now they are Cournot duopolists. How much profit has the family lost? (Round your answer to 2 decimal places (e.g., 32.16). Negative answer should be indicated by a minus sign.) 00:24 P Type here to search 14/02/2022 acerGlobal Gas & Electric, a monopoly operating in the northwest Philippines, is represented in the table below. Global’s executives would not provide you any more information than what's in this table, so you'll have to fill in the blanks. Fill in the table and use it to answer the following question. (The output is measured in thousands of kilowatt hours of electricity.) A. Using the MR = MC rule, what is the profit-maximizing level of output (in thousands of KWHs)?
- Patents, Trademarks, and Copyrights... Group of answer choices Allow individual innovators to form companies and possess monopoly power for 30 years Allow innovators to possess monopoly power forever. Provide limited monopoly power. Allow innovative firms to achieve monopoly power for one year.T/F Monopoly consist of only one firm. Explain too.Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. (a) Draw a correctly labeled graph for a monopoly and show each of the following. (i) The profit-maximizing quantity, labeled QM (ii) The profit-maximizing price, labeled PM (b) Assume the monopoly now engages in perfect price discrimination. On your graph in part (b), show the profit-maximizing quantity for the price discriminating monopoly, labeled QPD. (c) Based on your answer to part (b), will a perfectly competitive market produce a larger, smaller, or the same quantity as the perfectly price discriminating monopolist? Explain.