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 116 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
Gracias!

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
Dissolution of the Geosphere Produces Karst Terrain Dissolution of the Geosphere Produces Karst Terrain
Potency and efficacy: (a) Drug A has a higher potency than drug B. (b) Drug A has a higher efficacy ... Potency and efficacy: (a) Drug A has a higher potency than drug B. (b) Drug A has a higher efficacy ...
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
AC ripple at the output terminal of the battery is more accurate than testing at the battery due ... AC ripple at the output terminal of the battery is more accurate than testing at the battery due ...
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Video: Transmission Across a Synapse

For a complete list of videos, visit our video library