Economic profit in the long run is:A. feasible for both a pure monopoly and also a pure competitorB. possible for a pure monopoly, but not for a pure competitorC. impossible for both a pure monopolist and a pure competitorD. only possible when barriers to entry are nonexistent


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An vital economic trouble connected through pure monopoly is that, at the profit maximizing output, sources areLA. overalsituated bereason price exceeds marginal costB. overalsituated because marginal cost exceeds priceC. underallocated bereason price exceeds marginal costD. underalsituated bereason marginal expense exceeds price
Price discrimicountry refers to:A. offering a offered product for various prices at two various points in timeB. any price above that which is equal to a minimum average complete costC. the marketing of a given product at various prices that carry out not reflect price differencesD. the difference in between the prices a pudepend competitive seller and also a pudepend monopolistic marketing would certainly charge
Which of the complying with conditions is NOT required for price discrimination?A. Buyer with different elasticities should be physically separate from each otherB. The great or company cannot be profitably reoffered by original buyersC. The seller must be able to segment the marvital, that is, to identify buyers through different elasticities of demandD. The seller need to possess some level of monopoly power
The practice of price discrimination is connected through pure monopoly because:A. it have the right to be practiced whenever before a firm"s demand also curve is downslopingB. monopolist have significant capacity to control output and also priceC. monopolist commonly realize economies of scaleD. many monopolists sell distinguished products
If a regulatory commission desires to provide a organic monopoly through a fair rerevolve, establish a price that is equal to:A. minimum average fixed costB. average full costC. marginal costD. marginal revenue
A pure monopolist will certainly maximize profits by creating at that output wright here price and also marginal price are equal:TrueFalse
In the brief run, a pure monopolist will maximize profits by creating that level of output wright here the distinction in between price and average total price is at a maximum:TrueFalse
In the brief run a pure monopolist will certainly charge the highest possible price the market will bear for its product:TrueFalse
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