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Exam 11: Monopoly

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Question 181

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If marginal cost is constant,what happens to a market if it alters from perfect competition to monopoly without any change in the position of the market demand curve or any variation in costs?

A) Consumer surplus decreases,producer surplus increases and a deadweight loss is created.
B) Consumer surplus decreases,producer surplus decreases and a deadweight loss is created.
C) Consumer surplus increases,producer surplus decreases and a deadweight loss is created.
D) Consumer surplus increases,producer surplus increases and a deadweight loss is created..

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Question 182

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When TR is increasing as a monopolist's output increases,

A) MR is negative.
B) MR is positive.
C) MR = 0.
D) MR may be positive or negative.

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Question 183

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A monopolist will maximize its profits by charging a higher price for customers with a price elasticity of

When considering marginal revenue for the monopolist,which of the following is FALSE?

If a monopolist were to produce in the inelastic segment of its demand curve,

A firm will practice price discrimination when it believes that by doing so it will be able to increase total

Suppose a monopolist's costs and revenues are as follows: ATC = $50.00; MC = $35.00; MR = $45.00; P = $55.00.The firm should

Which of the following is most likely to be a monopoly?

A monopolist engages in price discrimination

When it takes one firm in an industry to produce the quantity necessary to realize low unit costs,the industry

-In the above figure,the distance between A and B represents this monopoly firm's

The monopolist should NEVER produce in the

The monopolist determines the price and quantity combination that maximizes short-run profits by

In a monopoly market structure,the firm (the monopolist) always

In a perfectly competitive market in which identical firms face the same horizontal marginal cost curve,if demand increases,then the amount of consumer surplus will

The demand curve a monopolist faces is

The price elasticity of demand for a monopolist

$\begin{array} { l l l } \hline \mathbf { P } & \mathbf { Q } & \text { TC } \\\hline \$ 13 & 10 & \$ 15 \\\$ 12 & 14 & \$ 25 \\\$ 11 & 19 & \$ 45 \\\$ 10 & 25 & \$ 75 \\\$ 9 & 30 & \$ 115 \\\$ 8 & 35 & \$ 165\\\hline \end{array}$ -Refer to the above table.Given the demand and cost schedules,what is the profit maximizing quantity for this monopolist?

If a "certificate of convenience and public necessity" protects a monopolist's position,the barrier to entry this firm relies on is called

A deadweight loss occurs in a