Microeconomics

The reason externalities distort the allocation of resources is that a. too few goods are usually ...

Started by tsand2

Consider three ways of allocating two goods in a two-person exchange economy. I. Both individuals ...

Started by ashley

Markets can fail to achieve efficiency when a. there are prices consumers do not think are fair. ...

Started by tatyanajohnson

Suppose two coffee snobs who must have their coffee and cream in exact proportions (each cup is 10 ...

Started by brutforce

A monopolist with constant average and marginal cost equal to 8 (AC = MC = 8) faces demand Q = 100 - ...

Started by jlmhmf

A monopolist has total cost TC = Q2 + 10Q + 100 and marginal cost MC = 2Q + 10 . It faces demand Q = ...

Started by james

Which is not an example of price discriminating by separating markets? a. offering discounts for ...

Started by dejastew

All monopolies exist because of a. firms' desire to maximize profits. b. failure of antitrust ...

Started by lb_gilbert

A profit-maximizing monopoly will produce that output for which a. marginal revenue equals price. ...

Started by Marty

A monopoly's economic profits are represented by a. price minus marginal cost times number of units ...

Started by Bob-Dole

From the point of view of economic efficiency, output in a monopolized market is a. too high. b. ...

Started by erika

The deadweight loss from a monopoly refers to a. the portion of a monopolist's profits that are ...

Started by jwb375

A price-discriminating monopolist having identical costs in two markets should charge a higher price ...

Started by ahriuashd

All of the following might explain a firm offering quantity discounts except: a. lower costs of ...

Started by RRMR

Possible benefits of a monopoly include which of the following (choose all that apply)? a. a ...

Started by rachel9

Consider the same market for nonalcoholic beer as in the previous question. How many units will ...

Started by segrsyd

Two firms engage in Bertrand competition in differentiated products. After doing all the appropriate ...

Started by cmoore54

Which alteration of the assumptions behind the Bertrand model can help avoid the Bertrand Paradox ...

Started by 123654777

Relative to the case in which two identical firms choose quantities simultaneously in a Cournot ...

Started by Wadzanai

In the long run, in the model of monopolistic competition, for a typical firm, price is a. above ...

Started by jayhills49

Under the cartel model, each firm produces where a. marginal cost equals marginal revenue. b. ...

Started by HCHenry

Each firm in a cartel has an incentive to chisel because market price exceeds a. marginal cost. b. ...

Started by nummyann

In the Cournot model, each firm assumes that its rival will ____ its output when the firm adjusts ...

Started by DyllonKazuo

Product differentiation complicates the study of oligopolies because such markets may not a. be ...

Started by james

A firm's demand for labor is known as a derived demand because a. the firm gains utility from ...

Started by sam.t96