plz answer all 1- to 5 questions thank u so much In reality, the long run supply curve tends to be:Multiple Choiceupward slopingdownward slopingperfectly inelasticperfectly elasticThe graph shown represents the cost and revenue curves faced by a monopoly.MCP3P2P1Q1Q2QMRIf Q1 units are being produced, the monopolist should:Multiple Choicecharge PO to maximize profits.Public policy responses to monopolies:Multiple ChoiceATCDalways have more costs than benefits to societynever benefit society in the end42 Q. Public policy response to manopoliesalways have more costs than benefits to societynever benefit society in the endalways have more benefits than costs to society.sometimes aim to break up existing monopolies.Which of the following is an essential characteristic of a perfectly competitive market?Multiple ChoiceSellers are price makers.Goods are unique.Goods are standardized.Buyers and sellers share market power.When demand increases in a perfectly competitive market,Multiple Choiceprices increase; prices stay permanently higherprices increase, supply increasesquantity supplied increases, prices increasequantity supplied decreases; prices decrease3Чin the short run, and in the long run.s

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In reality, the long run supply curve tends to be: Multiple Choice upward sloping downward sloping perfectly inelastic perfectly elastic

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter9: Monopoly

Section: Chapter Questions

Problem 29CTQ: Imagine that you ale managing a small firm and thinking about entering the market of a monopolist....

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Question

plz answer all 1- to 5 questions thank u so much

In reality, the long run supply curve tends to be:
Multiple Choice
upward sloping
downward sloping
perfectly inelastic
perfectly elastic
The graph shown represents the cost and revenue curves faced by a monopoly.
MC
P3
P2
P1
Q1
Q2
Q
MR
If Q1 units are being produced, the monopolist should:
Multiple Choice
charge PO to maximize profits.
Public policy responses to monopolies:
Multiple Choice
ATC
D
always have more costs than benefits to society
never benefit society in the end
4
2

Q. Public policy response to manop
olies
always have more costs than benefits to society
never benefit society in the end
always have more benefits than costs to society.
sometimes aim to break up existing monopolies.
Which of the following is an essential characteristic of a perfectly competitive market?
Multiple Choice
Sellers are price makers.
Goods are unique.
Goods are standardized.
Buyers and sellers share market power.
When demand increases in a perfectly competitive market,
Multiple Choice
prices increase; prices stay permanently higher
prices increase, supply increases
quantity supplied increases, prices increase
quantity supplied decreases; prices decrease
3
Ч
in the short run, and in the long run.
s

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