« previous next »

Author Question: Since a monopoly can set any price it wants, it always makes a profit. Indicate whether the ... (Read 34 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?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

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?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig
Removing the bed from a pickup truck makes gaining access to the fuel pump a lot easier. Removing the bed from a pickup truck makes gaining access to the fuel pump a lot easier.
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)= ...
A simple pendulum of length 2.5 m m makes 5.0 complete swings in 16 s s . What is the ... A simple pendulum of length 2.5 m m makes 5.0 complete swings in 16 s s . What is the ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
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: Acid-base imbalances - compensation of metabolic acidosis and alkalosis

For a complete list of videos, visit our video library