Pure monopoly refers toA) a single firm creating a product for which tright here are no close substitutes. B) a big variety of firms developing a identified product.C) any kind of industry in which the demand also curve for the firm is downsloping.D) a standardized product being produced by many kind of firms.

You are watching: Refer to the diagram for a pure monopolist. monopoly output will be

Which of the complying with is correct?A) Both purely competitive and also monopolistic firms are "price takers."B) A purely competitive firm is a "price taker," while a monopolist is a "pricemaker."C) A pucount competitive firm is a "price maker," while a monopolist is a "pricetaker."D) Both purely competitive and monopolistic firms are "price machines."
The monopolist"s demand also curveA) corresponds with its marginal revenue curve.B) is perfectly inelastic.C) is less elastic than a pudepend competitive firm"s demand also curve.D) is perfectly elastic.
Barriers to entering an industryA) use only to pucount monopolistic markets. B) encourage fertile efficiency.C) encourage allocative efficiency.D) are the basis for monopoly.
A profit-maximizing monopolistA) may produce wright here demand is either elastic or inelastic, relying on the level ofproduction prices.B) will certainly never before create in the output variety wbelow demand is elastic.C) will never before develop in the output array where demand also is inelastic.D) will certainly never produce in the output variety where marginal revenue is positive.
In the long run, a pure monopolist will certainly maximize earnings by developing that output at which marginal price is equal toA) average variable expense. B) marginal revenue. C) average cost. D) average total cost.
Answer the question on the basis of the offered demand and also price information for a pure monopolist.The profit-maximizing price for the monopolist will certainly beA) $3.35. B) $5.00.C) $2.90.D) $4.50.

See more: How You Like Me Now Commercial 'How You Like Me Now?'

Answer the question on the basis of the gave demand also and also cost information for a pure monopolist.The profit-maximizing level of output will beA) 4 units.B) 7 units. C) 5 systems. D) 6 devices.
Answer the question on the basis of the provided demand also and price data for a pure monopolist.The profit-maximizing monopolist will realize a A) profit of $7.50.B)profit of $8.50C) profit of $16.D)loss of $14