« previous next »

Author Question: Since a monopoly can set any price it wants, it always makes a profit. Indicate whether the ... (Read 36 times)

LCritchfi

  • Hero Member
  • *****
  • Posts: 519
on: Jul 1, 2018
Since a monopoly can set any price it wants, it always makes a profit.
 
  Indicate whether the statement is true or false

Question 2

Which of the following characteristics of a competitive market make auction sites such as eBay so popular?
 
  A) There is freedom of entry and exit.
  B) There are very low transaction costs.
  C) There are only one or two sellers.
  D) Buyers and sellers have complete information.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


pratush dev

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jul 1, 2018
Answer to Question 1

False. The profit-maximizing price can result in a loss.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

The stability of carbon bonds makes life possible even in extreme environments The stability of carbon bonds makes life possible even in extreme environments
The grey side-gilled sea slug Pleurobranchaea maculata. The discovery of tetrodotoxin in this slug i The grey side-gilled sea slug Pleurobranchaea maculata. The discovery of tetrodotoxin in this slug i
Using a bright light makes seeing where the smoke is coming from easier. In this case, smoke was ... Using a bright light makes seeing where the smoke is coming from easier. In this case, smoke was ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
How body makes blood flow more into brain instead of foot? How body makes blood flow more into brain instead of foot?
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library