This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A single-price monopolist charges a higher price and produces more output than a perfectly ... (Read 119 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
A single-price monopolist charges a higher price and produces more output than a perfectly competitive industry. Is the previous statement correct or incorrect? Explain your answer.
 
  What will be an ideal response?

Question 2

What types of things are sold in input or factor markets? Who are the buyers and sellers in these markets?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

6ana001

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is partially correct because a monopolist charges a higher price than a perfectly competitive industry. However the statement also is partially incorrect because the monopolist produces less output than a perfectly competitive industry.

Answer to Question 2

Resources used to produce goods and services are sold in input markets. These include labor, capital, and land. In input markets, households are the sellers (suppliers) and firms are the buyers (demanders).


student77

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Donor DNA is transferred as a single strand Donor DNA is transferred as a single strand
Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA
Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
Single-serve cups of infant formula Single-serve cups of infant formula
Testcross of a single character Testcross of a single character
Multiple origins of replication on a single chromosome from Drosophila melanogaster Multiple origins of replication on a single chromosome from Drosophila melanogaster
Video: X chromosome inactivation in calico cats

For a complete list of videos, visit our video library