Author Question: Suppose the technology of an industry is such that the typical firm's minimum efficient scale is ... (Read 18 times)

bubba123 · **on:** Oct 12, 2022

Question 1

The table below shows the demand schedule for a product produced by a single-price monopolist.

Price	Quantity Demanded
$8	5
$7	6
$6	7
$5	8
$4	9
$3	10
$2	11

TABLE 10-1

Refer to Table 10-1. For a single-price monopolist producing and selling 9 units, the marginal revenue earned by selling the 9th unit is
◦ -4.
◦ -2.
◦ 0.
◦ 2.
◦ 4.

Question 2

Suppose the technology of an industry is such that the typical firm's minimum efficient scale is 8000 units per month at an average long-run cost of $5 per unit. If the total quantity demanded at a price of $5 per unit is 8500 units per month, the likely result would be
◦ a concentrated oligopoly.
◦ a natural monopoly.
◦ perfectly competitive firms.
◦ a cartel.
◦ price discrimination.

psuniv · **Reply #1 on:** Oct 12, 2022

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