Identify the type of barrier to entry. (Natural barriers to entry, Ownership barrier to entry, Legal barrier to entry) a) DeBeers Diamond company in the 1980s and 1990s   b) Electricity provider in a city   c) Pharmaceutical drug

19. A monopoly is a market in which there is only one seller. This situation hurts consumers (buyers). But how, precisely? Explain the things that a monopoly does that hurt consumers.

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10 Monopoly profits do NOT serve any "socially useful" purpose because: Select one: E of a. Each of these is a reason why monopoly profits are not socially useful. b. the monopolist's profits are not "competed away". C. the monopolist's profits do not incentivize new investment and a reallocation of resources into the market. d. entry barriers prevent new firms from entering the market to compete with the monopolist.

The graph shown represents the cost and revenue curves faced by a monopoly 18 876543N-OOO7SSAMNI 17 16 15 14 S 13 12 11 10 9 2 1 MC ATC X MR %70%85% -% 90 A. II only B. I and III C. I only D. II and III only 100 110 Which of the following statements is true? . The monopolist's profit maximizing price is $12. 2. The monopolist's profit maximizing quantity is 100. . The monopolist will earn zero profits. 120 130 140 150 160 170 D Quantity

Q (units) 0 1 2 NMT 3 4 5 P ($) 50 45 40 35 30 25 TC ($) 10 $105 none of the above 26 42 58 74 90 If the monopolist maximizes profit, then profit will be O($44) O $47

The best measure of the social burden of a monopoly is captured by its   a.   variable cost   b.   deadweight loss   c.   economic profit   d.   fixed cost   No plagiarism

T/F There are alot of  firms (seller) in a monopoly market. Justify in detail.

A firm typically achieves its position as a monopolist as a result of _. (a) the absence of long-run profits in an industry (b) a small market and a constant average cost (c) barriers to entry (d) a downward sloping demand for the product.                                                                   Provide reasons for incorrect as well.

Can anyone please help!