As long as _________ exist, a monopolist can earn positive profits in the long run A.Entry barriers B.Maximum prices C.Brands

Which of the following are characteristics of a monopoly A. Set their own price  B. Many buyers and sellers C. Declining long-run average total cost D. Free entry and exit

A monopolist is able to maintain into the long run primarily because  a. barriers to entry exist b. of collusive behavior c. of mutual interdependence  d. of price taking behavior e. of product differentiation

Graph and discuss a comparison of the short-run and long-run profits, price, quantity, MR and MC of a Monopoly and a PC firm. Which type of firm is more efficient and why?

1.  Using a graph, show a situation in which a monopolist is incurring short-run losses. Explain how this is possible.  2.  Julee has estimated the demand and marginal revenue for her product. They are P = 100 - 2Q (quantity) and MR = 100 - 4Q, respectively. She also experiences constant marginal cost of $16. a. Does Julee have any market power? How can you tell? b. What is Julee’s profit-maximizing quantity? c. What price should Julee charge at that profit-maximizing quantity? 3. Explain a situation in which, when holding costs constant, a monopolist that was earning economic profits in the past can later incur an economic loss.

i A monopoly can be identified by a few traits that distinguish it from other market systems. Identify the reasons a monopoly firm sets prices in microeconomics. ii. Monopolistic opponents said that the monopoly power would have a negative social impact. Tell us why. iii Describe THREE (3) qualities or conditions of the perfectly Competitive market structure. A perfectly competitive market has the opposite characteristics or conditions from a monopolistic market.

Question Maxin Suppose a monopolist could charge a different price to every customer based on how much he or she were willing and able to pay (versus charging the same price to all their customers). How would this affect the monopolist's profits? Why? Description Answer eacho Use the editor to format your answer 10 Roints

In long run equilibrium, the pure monopolist can make pure profits because of A. Blocked entry B. The high price he charges C. The low LAC costs D. Advertising

Markbury is a monopoly selling widgets. If the government imposes a $100 000 tax on every monopolistic firm in the country, then Select one: a. Markbury’s annual profit will no change since its marginal cost is unchanged b. Markbury’s annual profit will fall by $100 000 since its marginal cost would rise by $100 000 c. Markbury’s annual profit will fall by less than $100 000 since its marginal cost would rise by less than $100 000 d. Markbury’s annual profit will fall by $100 000 but its marginal cost will not change e. The impact on Markbury’s profit is difficult ascertain, without more information

a. How is monopolistic competition like monopoly, perfect competition andoligopoly? b. Give two examples of price discrimination. In each case, explain why themonopolist chooses to follow this business strategy (answer b)c. Why does price equal marginal revenue for the perfectly competitive firm?What is the relationship to the demand curve for the firm?