If you lived in a small rural community in Montana, which of the following is most likely to be a monopoly ? A. an appliance store B. a grocery store C. a dentists office D. An electricity provider

Sandy Cove is the only beach resort on a small island and the only beach activity it offers is jet ski rides. The graph shows the marginal cost of a ride and the demand for rides. The resort is a single-price monopoly. G Draw the firm's marginal revenue curve. Start the curve at the y-axis. Label it. The number of rides taken each hour is >>> Answer to 1 decimal place. The price of a ride is $ >>> Answer to 2 decimal places. 30- 25- 20- 15- 10- 5 Price and cost (dollars per ride) MC D Quantity (rides per hour) >>> Draw only the objects specified in the question.

The table below shows cost data for producing different amounts of saucepans. Suppose this market is a monopoly. Use the information in the table to find the missing Total Revenue and Marginal Revenue for each quantity. Marginal Revenue in $ *** S O Price in $ Quantity 5.00 4.00 3.00 2.00 1.00 0.00 0 1 2 3 5 a 0 Total Revenue in $ 4 6 6 4 0 22 # $9 hp STRIK T 90°F 4:20 PM 10/16/2022 易

The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits 1. Place point E at the monopoly's profit maximizing price and quantity 2. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit. 3. Place the area labeled Profit in the area of the graph that represents the monopoly's profit 10 MC Profit 7 ATC 4. 3 2 1 MR 0 4. 1 3 7 Quantity (millions of units) 10 LO et LO Price (S per unit)

3 In a town called Flicksville in a rural area, there is just one gas station called Flick’s Gas. This gas station resembles a monopoly on the sale of gasoline. Flick’s Gas is currently earning economic profit while operating as a monopoly. Draw a correctly labeled graph for Flick’s Gas and show each of the following in your graph a. The profit-maximizing quantity denoted as QF b. The profit-maximizing price denoted as PF. c. The deadweight loss associated with the Flick’s profit-maximizing quantity. Shade this area in your graph. d. Assume that fixed costs for Flick’s Gas has increased because the management at Flick’s Gas negotiated a new contract. Will each increase, decrease, or remain unchanged at Flick’s profit-maximizing quantity?

Review the graph at right for a monopoly market (enter all of your responses as whole numbers). How much is the consumer surplus? $ 450 How much is the producer surplus? $ 1350 How much is the deadweight loss? $ 225 Monopoly total surplus is $ A *** 80- 160 60**** 30- 10- 0- Price 0 MC MR D 10 20 30 40 50 60 70 80 90 100 Quantity

What is the term for a legal monopoly granted by the government to an inventor to produce a specific product for a certain period of time?   A. Patent B. Copyright C. Trademark D. Trade secret.

Monopoly: Fantastic Films is the only movie theater in an isolated town. The table below illustrates the demand schedule for movie tickets and the cost schedule for producing the movies. Complete the table and sketch a graph of the theater's demand functions, marginal revenue, and marginal cost.

1. Some people say that if there is a monopoly producer they can charge any price they want and the buyers have no choice but to buy the product at that price. Explain if that is true by considering a monopoly airline.  2. When you go to your dentist, she charges you the full price for your clean and shine but the dentist charges your grandmother (a senior citizen) a 20 percent discounted price for the same service. Explain why the dentist is able to make the price discrimination work.  3. Even though everyone values clean air and wishes to breathe clean air, environmentalists and a large number of city dwellers would say that Canadian cities have excessive air pollution. Explain why, if left to the free-market system, the problem of excessive air pollution would not be solved?  Name another problem that would not be solved, if left to the free-market system. Suppose someone makes the following statement in support of introducing barriers to trade for importing men’s clothing…

An example of a monopoly could be: a. the only veterinary doctor on an island b. a big hospital in a big city c. a big city restaurant d. the hotels in san juan