. A) monopoly are same things.? Yes/No, explain your answers theoretically. Also, dicoure Do you think Monopoly, Natural Monopoly and the regulated dieguce

19 Which of the following describes how a natural monopoly is graphically illustrated? A When producing small quantities, the demand is higher than long-run average cost. BO The long-run average cost curve is U-shaped. CO When producing large quantities, the long-run average cost is greater than demand. The demand curve intersects the long-run average cost curve at a point where the long-run average cost curve is downward sloping. D

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8. Can a monopolist that is not subject to any regulation lead the market to Pareto efficiency by his own initiative? Pareto efficiency is a situation that cannot be modified so as to make any one individual better off without making at least one individual worse off. In the model of monopoly, we assume that the ultimate goal of a monopolist is to maximize his profit, which means MC-MR. We have seen (for example, in the lecture or earlier problems, e.g., problem 5) that this equality leads the monopolist to produce less and charge a higher price than in perfect competition. This makes the monopolist better off but at the same time makes consumers worse off, as compared to perfect competition. This also leads to a deadweight loss. As we have the deadweight loss, the monopoly is definitely not Pareto efficient. See the lecture slide # 37. The transactions between Qm and Qk (quantities supplied in the monopoly and perfect competition, respectively) could take place to everyone's benefit,…