« previous next »

Author Question: Since a monopoly can set any price it wants, it always makes a profit. Indicate whether the ... (Read 32 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?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

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?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

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
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Medicinal leeches on a patient’s neck. Today leeches are sometimes used in microsurgery to prevent b Medicinal leeches on a patient’s neck. Today leeches are sometimes used in microsurgery to prevent b
Sheryl Crow - If It Makes You Happy Sheryl Crow - If It Makes You Happy
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library