Figure: Monopoly Model Price O OPDJ. O OIHJ. O IPDH. O OSBJ. con average total cost ATC When the firm is in equilibrium, its total cost is the area of rectangle:

For a monopoly, at the level of output where marginal revenue equals zero, then the Select one: a. firm has maximized total revenue. b. firm is a price taker. c. price elasticity of demand at this amount of output is zero. d. firm earns no revenue.

1. For a price searching firm it's marginal revenue curve  (a). Is below it's marginal cost curve (b). Must be vertical (c). Must be horizontal (d). Is below it's a demand curve  2. The most common source of illegal Monopoly today is (a). Predatory pricing  (b). Intellectual property rights (c). Royal edict (d). Natural monopoly  3. The market demand is given by p= 420-0.05Q, vrp is the price of the good and Q is the quantity demanded at that price. The monopolist marginal revenue function in this market is  (a). MR= 210-0.05Q (b). MR= 420-0.05Q (c). MR= 420- 0.025Q (d). MR= 420-0.1Q 4. In the monopolized ( profit maximizing) market equilibrium p> MC( the price exceeds the marginal cost) this implies that  (a). The consumer surplus is equal to the producer surplus  (b). The total value of the good is maximized (c). The equilibrium is Marshall inefficient (d). The market price is equal to the market quantity  5. The market demand is given Q= 440-40P, where P is the price of the good…

1. How much total revenue does the monopoly firmmake? 2. How much total cost does the monopoly firm incur? 3. How much total profit does the firm make?

What is true about the monopoly's marginal revenue? Assume no price discrimination please (just one price can be used ) a.Marginal revenue is lower than the price (except for the first unit), because selling more requires the monopoly to discount the former units as well b. Marginal revenue is equal to price c.Marginal revenue is higher than price d.None of the other answers is correct Which one?

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Due to , a natural monopoly's average cost is  as its output rises.     a Economies of scale; increasing b Economies of scale; decreasing c Diseconomies of scale; increasing d Diseconomies of scale; decreasing

Compared to a competitive firm, a monopoly will ... (select all correct answers) A. produce an output where marginal revenue is lower than marginal cost B. charge a higher price □ C. produce greater quantities OD. be less efficient

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