From a societal point of view, can we claim that perfect competition and monopoly are equally efficient? Why, or why not? Explain.give graph if needed

Q: Which of the following could explain why a firm is a monopoly? Select one or more answers from the…

A: ANS Patents : In the presence of patents a firm legally gets the license from the government to be…

Q: Economics Supposes Monopharm wants to maximize profit, what quantity does it sell, what price does…

A:

Q: One difference between a competitive firm and a monopoly is that __________________. a. monopoly…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: what is the similarities between perfect competition and monopoly?

A: Perfect competition and monopoly markets, both two different market structures. however, there are…

Q: Why does the marginal revenue of a monopoly firm decrease with the increase in quantity of output…

A: The monopoly is a firm which has a single seller and many buyers in the market. The monopoly market…

Q: Why might a firm have monopoly power even if it is not the only producer in the market?

A: The ability of a company to set the Price of a product is known as market power. Monopoly power is…

Q: To what extent do you agree with the statement that a monopoly is always a worse situation for…

A: A monopoly is a market structure where there is a single seller and many buyers.

Q: If multiple fırms colluding to charge higher prices would lead to higher profits than when competing…

A: In the market with big firms, there used to be some level of market power enjoyed by these firms,…

Q: Which of the following statements are true about this natural monopoly? Check all that apply. The…

A: It is given that MC is horizontal which means no matter the quantity of output produced the cost…

Q: Why monopoly firm earns abnormal profit in the long run?

A: Monopoly firm is the single seller of its product without any close substitute which gives monopoly…

Q: Assuming the firms are Bertrand duopolists, what is likely to happen? Explain verbally?

A: In a Bertrand game, there exist only two firms producing an identical product and they choose the…

Q: How does a demand curve differ in perfect competition from a demand curve in a monopoly?

A: To show the difference between the demand curve under perfect competition and the demand curve under…

Q: Under what condition is a monopoly preferred to perfect competition? Use a diagram to explain your…

A: Under perfect competition, there are large number of buyers and selling selling homogeneous goods.…

Q: What do you see as the main costs and benefits of allowing a single firm to gain a monopoly in an…

A: A monopoly is a form of market where there is a sole producer of a particular product in an…

Q: What are the major characteristics of a firm competing under conditions of monopoly?

A: Some important characteristics of monopoly market are listed as follows.

Q: . Assume that the marginal cost curve is given by mc(q) = 5+ 2q. The demand is equal to %3D qd = 100…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: If the monopoly in the figure were to be broken up into many small firms, the competitive…

A: We have to find given diagram  answer.

Q: 20. world? Which of the following, if true, would make finding a pure monopoly difficult in the real…

A: Monopoly is a type of market structure in which there is only a single seller in the market.

Q: If an industry could be organized either perfectly competitively or as monopoly, a monopoly would…

A: Perfect competition is a market structure in which there are large number of buyers and seller…

Q: how is the way an unregulated monopoly sets its price different from how products are priced in a…

A: Unregulated monopoly is characterised by  A market with single seller  No statutory ceiling price…

Q: If patents reduce competition, why does the federal government grant them? The federal government…

A: We are going to introduce concepts such as creation of monopolies and reduction in competition.

Q: If you were managing a monopoly, and small entrant tried to enter your market, explain why it might…

A: We show that monopoly is a type of màrket characterized by a single seller selling different…

Q: Monopoly firm

A: A market where there are one firm, and many buyers are called a monopoly. A monopoly is a market…

Q: Suppose a perfectly competitive industry turns into a monopoly but the cost structures remain the…

A: Perfect market: It refers to the market under which there are many firms in the market. The perfect…

Q: For each of the following phrases/htatements, say whether it applies to industries organized by…

A: Hi! thank you for the question but as per the guidelines, we answer only up to 3 sub-parts at one…

Q: Assume there is no price discrimination: Matthew, Rachel, Janice, and Mandy own the only ice…

A: If Mathew wants to sell goods as much as possible without losing money which means that marginal…

Q: What does a firm that is a natural monopoly derive its market power from? Group of answer choices…

A: A natural monopoly is a sort of monopoly that arises from high start-up costs or large economies of…

Q: Consider the following firms. Would you regard any of them as a monopoly? Why or why not? Could you…

A: Monopoly is defined as a market structure where there is only a single seller of a product that has…

Q: Why might monopoly arise?

A: Monopoly is a form of market where there is barriers to entry and exit as there is only one seller.…

Q: Identify the primary difference between a purely competition and a monopoly market

A: Market structure is a term used in economics to describe how different industries are classified and…

Q: In Pure Monopoly, how important is it to identify total costs and revenues when maximizing the…

A: While considering the profit in monopoly it is very important to identify and evaluate the costs of…

Q: How is monopoly different from perfect competition?

A: A market is a place where the buyers and sellers interacts with each other party and determines the…

Q: Compare the efficiency of monopoly and perfect competition firms on the same graph by considering…

A: A perfect competitive firm maximizes profit by equating Price and MC. This is the efficient…

Q: Which of the following is not a reason for the existence of a monopoly? Select one: a. Sole…

A: Monopoly: It refers to the single product which is selling goods and services to the people. The…

Q: Can the absence of government intervention be a similarity between perfect competition and monopoly?

A: Perfect competition and monopoly are two types of market structures.

Q: How does monopoly compare with pure competition in terms of price, output, and efficiency? Explain.

A: Perfect competition refers to the market structure where there are large number of buyers and…

Q: Why does monopoly arise?

A: A market is a place where the trading between the buyers and sellers takes place, it is divided as…

Q: Take a look at the graph below. Which area shows the reduction in consumer surplus that results from…

A: A market is a location where two or more parties exchange products, services, and information. A…

Q: Compare and contrast the similarities and differences between perfect competition and monopoly.

A:

Q: Q) 2 Critically evaluate the merits/ benefits and problems of Perfect Competition and Monopoly ,…

A: In perfect competition market there will be large number of sellers, it means that a single seller…

Q: Monopoly and Economic efficiency: importance and problem of monopoly market

A: A market structure in which only one seller caters to the needs of a large number of buyers is…

Q: Which of the following is the best example of a monopoly? options: Georgia Power…

A: Monopolies are characterized by rigid entry barriers and the existence of just one supplier or…

Q: To answer this question, you will want to work out the answer using a graph on a piece of scratch…

A: For any market the equilibrium condition is given as: MR = MC, but since the monopolist faces the…

Q: In the attached graph is a depiction of a monopoly.  At what output should he or she produce?  What…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: Explain how demand is seen by a pure monopoly.

A: In a pure monopoly setting, there are strict restrictions with respect to arrival of new sellers…