Which industry approximates the monopoly among the following?     A. Petroleum     B. Microsoft     C. Restaurants     D. Internet access

I need a full explanation for these questions 1. A monopoly may arise or be created by all of the following except a. Diseconomies of scale b. Ownership of an essential resource c. Government restrictions on entry d. Patents e. Economies of scale 2. A monopolist a. Has a perfectly inelastic demand curve. b. Is a price taker. c. Can always increase price to increase economic profit. d. Is a price maker. e. Has no control over the market price of the product it sells. 3. A price-discriminating monopolist a. Produces quality products only. b. Does not sell products to minority groups. c. Must have a very large operation. d. Sells the same product in different markets at different prices e. Has no market power in the industry 4. Firms operating in a perfectly competitive market are price takers because a. They have a lot of market power. b. They are unable to set a price that differs from the market price without losing profit. c. They choose to set a price that differs from the market…

Explain the various reasons behind emergence of monopoly. Explain in detail. No AI used

A natural monopoly occurs when A. marginal cost is constant. B. average cost is declining. C. marginal cost is below average cost. D. All of the above are true.

How does the monopoly quantity (assuming no price discrimination) compare to the competitive quantity? Assume normally shaped demand (decreasing, not completely elastic or inelastic ) a.The monopoly quantity is higher b.The monopoly quantity is lower c.There is not enough information provided to be sure. d.The monopoly quantity is the same. Which one?

5

1. What are the various reasons that causes monopoly? Explain and provide an example of each. 2. Explain the characteristics of a monopoly. How it is different from a perfect competition? 3. Refer to the graph below: 105 100 - MC 95 90 АТС 85 80 75 70 65 - 60 55 50 45 + 40 + 35 30 25 20 15 10 MR Demand +++++ YTTI 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100105110115120 e In the above graph calculate the following? a. The profit maximization quantity b. Price that the monopolist will charge at that level c. Total revenue at that level d. Total cost at that level e. Profit or loss (if any) at that level

Watch the video below on price gouging. Do you think this issue is related to the characteristics of a monopoly? Yes, how? If no,

1 Fill in the blank with the correct answer by typing in the box. Innovation can end a monopoly and bring - prices.

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