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

Author Question: Which of the following statements is true of a monopolist? a. The firm charges the highest possible ... (Read 45 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jun 30, 2018
Which of the following statements is true of a monopolist?
 a. The firm charges the highest possible price.
  b. The firm always earns a profit.
  c. The firm might earn a profit in the long run.
  d. The firm generates a larger consumer surplus than a perfectly competitive firm.
  e. The firm is more production efficient than a perfectly competitive firm.

Question 2

Suppose that, in the short run, a perfectly competitive firm earns a normal profit. Which of the following is incorrect?
 a. MR = price
  b. MR = ATC
  c. AR  Q = TR
  d. TR = TC
  e. P = AVC


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

14vl19

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

E


xclash

  • Member
  • Posts: 681
Reply 2 on: Jun 30, 2018
:D TYSM

essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Select the Code with the Highest Level of Specificity Select the Code with the Highest Level of Specificity
Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ... Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ...
Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ... Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ...
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Type III curve. Mortality is highest early in life. Data for a desert shrub (Cleome droserifolia). Type III curve. Mortality is highest early in life. Data for a desert shrub (Cleome droserifolia).
Video: Introduction to Pre-eclampsia

For a complete list of videos, visit our video library