Q: Please select ALL of the requirements needed for a monopolist to successfully price discriminate…
A: A monopolist is a producer who has no close substitutes in the market due to which he is the only…
Q: A small town is served by many competing supermarkets, which all have the same constant marginal…
A: Equilibrium output is achieved in a competitive market when: D=AR=MR=MC Thus, in the above diagram,…
Q: A characteristic of the monopoly market structure is options: marginal revenue is greater than…
A: Monopoly is a type of market structure in which there exists only firm in the market. One buyer has…
Q: Discuss at least 1 pricing practice that is illegal or unethical
A: Mostly, different firms engage in competition to reach their targets, which enables the customers to…
Q: Governments can implement the excess profit tax as an intervention measure to correct for market…
A: A scenario known as monopoly occurs when there is only one vendor in the market. The monopoly…
Q: Explain the topic Theory of mercantilism
A: The nations around the world work with the objective, or motive of enhancing their development…
Q: Match each of the terms to their description: Shutdown Point Price maker A. something that keeps new…
A: A monopolist is a price maker because it sells a unique product so it has the control over the…
Q: Discuss the relationship between monopoly and extranalities using microeconomics knowledge ?
A: Monopoly: Monopoly is an market structure wherein there is a single seller of a commodity which is…
Q: Gaynor is the only manufacturer of gas pumps that automatically refill. Gaynor can earn a profit on…
A: In a competitive market firms can earn positive profit in short run but will earn zero economic…
Q: A nondiscriminating pure monopolist's demand curve:
A: The monopolist would be the market structure which would have a single seller and many buyers in the…
Q: Explain two ways policymakers respond to the inefficiencies of monopolists
A: A monopolist maximize profit by producing at level of output where MR = MC and charging the maximum…
Q: A social cost is applied to the monopolist market structure. Why does this occur? If the gains…
A: Social cost is defined as the sum total of both private costs and any form of external cost which…
Q: The price charged by oligopolists will a.generally fall between the monopoly and competitive market…
A: Oligopoly is a market structure in which there is few sellers and large number of buyers. The two…
Q: The demand curve faced by monopolist and his total cost functions are given below;Demand function; Q…
A: In case perfect competition , price is equated with marginal cost whereas in monopoly , the profit…
Q: In general equilibrium, when one of the firms producing goods is a monopolist, it charges price that…
A: Monopolist is teh single seller in the market of goods to large number of buyers which jarge high…
Q: Critically evaluate and explain each statement: The monopolist has a pricing policy; the competitive…
A: Different forms of market structures differ in their level of competitiveness, ranging from highly…
Q: Explain 4 ways policy makers can respond to the inefficiencies of the monopolist.
A: A monopoly is a situation that is the only supplier of a good or service, giving it a huge…
Q: Discuss and motivate whether the following market structures can engage in price discrimination. a)…
A: Price discrimination means that the firms can charge various prices for the same goods to different…
Q: Which one is not an unethical practice in Oligoploy markets: a) price fixing, b) manupulation of…
A: Introduction. Oligopoly is market where there is small number of firms or suppliers and they control…
Q: In the model of horizontal product differentiation, the monopolist’s optimal number of shops is ____…
A: In a market, horizontal product differentiation refers to the situation when firms use…
Q: One factor that has prevented the formation of cartels for producers of commodities is that: a)…
A: A cartel refers to an agreement between various firms in order to maximize their joint profits. The…
Q: The figure below shows the cost (MC, ATC) and demand curves (D, MR) for a cable company operating as…
A: A monopoly firm produces at the intersection point of MR and MC. Hence, the output level…
Q: Relative to a perfect competitive industry, a monopolist produse too little output and set too…
A: Perfect competition is the market structure with large number of buyers and sellers, selling…
Q: Hotel Price Fixing? Waikiki Beach has two hotels, one run by Juan and a second run by Tulah. The…
A: Answer: Note: Profit = Total revenue - Total cost Total revenue=Price×quantityTotal cost=Average…
Q: Because each oligopolist cares more about its own profit than the collective profit, a.it makes less…
A: An oligopoly market is a market in which few firms are available with a quite different products.
Q: Question: answer the images in a short run monopolist will shut down when? a natural monoploy is…
A: A market is a place where the goods and services are exchanged between the buyers and sellers at a…
Q: Being the only firm in the industry could monopolist determine both its price and output at the same…
A: Monopoly is the market structure with sole producer, selling unique and exclusive products with many…
Q: Suppose a manufacturer and its retailer face the problem of double marginalization described in my…
A: Profit is the difference between total revenue and total cost. The total revenue is the revenue that…
Q: n general equilibrium, when one of the firms producing goods is a monopolist, it charges price that…
A: The monopolist is the single seller in the market of goods to a large number of buyers which large…
Q: A cartel in an industry: O leads to price wars. leads to the coordination of the increase in prices…
A: Oligopoly is defined as a market structure in which there are few sellers of a product, ranging…
Q: Ilia is driving home from work. She needs to buy gas and notices an Exxon-Mobil station on one side…
A: Substitutes are goods whose demand rises or declines when demand for the other good rises or…
Q: A monopolist is able to maintain into the long run primarily because a. barriers to entry exist…
A: Monopoly: A market system is defined by a single distributor offering a market-exclusive offer. The…
Q: In general equilibrium, when one of the firms producing goods is a monopolist, it charges price that…
A: The monopolists maximize their profit by producing the quantity at the level where MR = MC. At this…
Q: Monopoly profits do NOT serve any “socially useful" purpose because: Select one: a. Each of these is…
A: A monopoly is classified as a market failure because the market is meant to be maximising welfare…
Q: A monopolist can earn above normal profit entry by other firms will occur. True or false
A: This statement is False. In a monopoly there is a single seller of the product. A monopolist is the…
Q: How does monopoly determine the optimum production level
A: Monopoly demonstrates as a market structure where there is a single seller. The monopolist has full…
Q: Describe the characteristics of a perfectlycompetitive market
A: Perfect competition is a business system where a homogeneous commodity is sold by several firms. As…
Q: Which of the following is true for themonopolist?a. Marginal revenue is less than the…
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: Compared to a perfectly competitive firm, a monopolist: Q a. charges a higher price. Cb. produces…
A: When comparing differ forms of markets, it can be seen that the markets will have different…
Explain the features of the monoploy market in the economomy
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- Explain how organizations can collude to raise prices of products like sugar using the concept of market forces.Sport facilities sell tickets according to a seating map. At the Roger Centre, Blue Jays fans can see their Blue Jays for as high as $126 in the VIP area and as low as $17.50 in the 500 level. Provide the economic rationale and conditions for the price strategy at these sport facilities. Evaluate critically the following statement: “Price discrimination by a monopolist can increase welfare.” Use any of the market structure models to describe the COVID-19 vaccine manufacturing industry. Make sure you justify your answers.There are two gas stations in a small isolated town. The market demand for gasoline is given by P=8-0.25xQ, where Q is the quantity of gas in thousands of gallons and Pis the price of gas in dollars per gallon. Each station can supply any quantity of gasoline at a constant marginal cost of $1 per gallon. There are no fixed costs. Both stations sell the same regular gas, and the differences in location, service, etc. don't matter to consumers.
- Economics For Limit Pricing: Demand Function P = 200 - Q Monopolist Cost Structure MC = AC = 40. Potential Entrant's Cost Structure MC = AC = 60. Calculate the Monopolist Profits not limit pricing and Monopolist Profits if it limit prices.There is a monopolist in a market for a particular type of consumer goods. It is costly to create new types of products (brands) in this market, but consumers have different taste and thus some will prefer the new brand. Will the monopolist create too few brands or too many? Explain.Why would a firm choose to use one or more of the anticompetitive practices described in Regulating Anticompetitive Behavior?
