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Category > Business & Finance Posted 01 Sep 2017 My Price 10.00

Comparing the models of monopoly and perfect competition

Comparing the models of monopoly and perfect competition we know that

  a.

monopolies produce less and charge more than a perfectly competitive industry.
  b.

monopolies produce more and charge more than a perfectly competitive industry.
  c.

monopolies produce lmore and charge less than a perfectly competitive industry.
 

d.

 

 

A monopolist can earn profits in the long run because
  a. monopolies can legally force people to buy their products and to pay more for them than they are worth.
  b. a monopoly makes the good or service better than anyone else.
  c. barriers to entry prevent new firms from entering the industry.
  d. a monopoly is by definition large, and this gives it the ability to make large profits.

If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $99, its marginal revenue for the last unit sold is

  a. $11.
  b. $99.
  c. $109.
  d. $89.

monopolies produce less and charge less than a perfectly competitive industry.

 

Answers

SophiaPretty
(5)
Status NEW Posted 01 Sep 2017 07:09 AM My Price 10.00

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