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

Author Question: How does monopoly arise? What will be an ideal response?[br][br][b][color=#566D7E]Question ... (Read 100 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
How does monopoly arise?
 
  What will be an ideal response?

Question 2

Refer to Figure 3-6. The figure above represents the market for canvas tote bags. Compare the conditions in the market when the price is 50 and when the price is 35. Which of the following describes how the market differs at these prices?
 
  A) The difference between quantity supplied and quantity demanded is greater at 50 than at 35.
  B) At each price there is a surplus; firms will lower the equilibrium price in order to eliminate the surplus.
  C) At each price the supply of tote bags exceeds that demand for tote bags.
  D) At each price there is a surplus; the surplus is greater at 35 than at 50.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

Monopoly arises if a firm is selling a good that has no close substitutes and if the firm is protected from competition by a barrier to entry. As a result, a monopoly is the only firm in its market.

Answer to Question 2

A


fbq8i

  • Member
  • Posts: 527
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Pupillary response. Pupillary response.
A(n) _____ is a spur-of-the-moment question. Fill in the blank(s) with correct word A(n) _____ is a spur-of-the-moment question. Fill in the blank(s) with correct word
this is a math question this is a math question
economic question economic question
economic question economic question
economic question economic question
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library