Under what condition is a monopoly preferred to perfect competition? Use a diagram to explain your answer.

Q: What are the major assumptions of the theory of imperfect competition. Please explain them in detail…

A: Assumptions of theory of imperfect competition 1.Many sellers and buyers There are many sellers and…

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: If a profit-maximising monopoly can earn economic profits in the short run, the following condition…

A: Profit maximizing condition exist where the MC = MR where firm . In this case firm can also earn any…

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: 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: Explain, with the aid of a graph, the short run equilibrium position of a firm operating as a…

A: Answer: Introduction: Monopoly: monopoly refers to the market where there is a single seller and a…

Q: Apple faces competition from many other firms in the world market for mobile  phones; therefore,…

A: Apple has been the top brand in the world of smartphones. Apple has the exclusive right to use IOS…

Q: Compare the equilibrium of a firm under perfect competition with that of a monopolist in the…

A: Perfect Competition is a market structure where there is a large number of firms. Entry and exit…

Q: explain  what happens to a monopoly firm operating in the long-run.

A: A monopoly is a single seller that has control over the market supply. This implies monopoly is a…

Q: Explain in detail the differences between Perfect competition and Monopoly. Using completely…

A: Perfect competition is a market where price is fixed because consumers have complete information of…

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: What is the relationship between economies of scale and a natural monopoly?

A: Economies of scale- Scale economies, where goods produced in larger quantities become cheaper and…

Q: "Because a monopoly is the only source of supply, the firm is not constrained by the market demand…

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

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: Select one or two examples of an industry characterized by monopoly and discuss how each example…

A: A monopoly is a market structure characterized by the existence of a single firm as the producing…

Q: Compare the long-run equilibrium position of a perfectly competitive firm and a monopolist.…

A: Perfectly competitive firm is one of many firms and monopoly is a single firm in the market

Q: If you are to compete with a monopoly, what will be your biggest roadblock or challenge? Why?

A: Monopoly: It refers to the market where there is a single producer in the market. The producer helps…

Q: If a monopoly firm is earning profits, how much would you expect these profits to be diminished by…

A: Monopoly is said to exist when one firm is the sole producer or seller of a product which has no…

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: 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: 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: What is meant by diminishing costs and monopoly (imperfect competition)

A: Answer -

Q: In a monopoly, what will be your economic profit if you produces where marginal revenue equals…

A: "A monopoly firm is a sole seller of a product or service. A monopolist is a price maker and can…

Q: Differentiate between Perfect Competition and Monopoly?

A: The major difference between perfect competition and monopoly form of market areNumber of buyers and…

Q: What are the features of monopoly market?

A: Monopoly is a market where there is single seller who sells unique product in the market and can…

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: Correct the given statement A monopoly is a price taker

A: # In a market, a firm is considered to be as a price taker if that perticular firm has no control…

Q: A perfectly competitive firm is expected to make a $0 economic profit in the long-run. What type(s)…

A: Perfectly competitive firm is a price taker and monopolist is a price maker.

Q: The graph below shows the Market conditions of Honey’s Laundry service, which is the only laundry in…

A: A monopoly maximizes profit by producing at MR =MC  and charging the maximum price consumers are…

Q: From a societal point of view, can we claim that perfect competition and monopoly are equally…

A: Answer: Monopoly and perfect competition both are extreme forms of market structure, perfect…

Q: Compared to perfect competition there is a social cost under monopoly do you agree? Explain using…

A: The perfectly competitive market is a type of market structure where there are large number 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: 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: competition. Which is more efficient? Explain your reasoning and

A: Monopolist profit will maximizing where marginal cost equal marginal revenue. MR= MC  In Perfect…

Q: Compare the market structure of monopoly to perfect competition.how do they diffe

A: Different forms of market structures differ in their level of competitiveness, ranging from highly…

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

A:

Q: Reason for an emergence of monopoly

A: A market arrangement known as a monopoly has just one vendor who has complete market control.…

Q: Briefly contrast perfect competition and monopoly to explain a monopoly may or may not display…

A: Microeconomics refers to the branch of economics that studies the behavior of individuals and firms…

Q: The MR curve of a perfectly competitive firm is horizontal. The MR curve of a monopoly firm is: a.…

A: In all the market structures in micro- economics (Perfect, Monopoly, Monopolist) the equilibrium…

Q: Question #4: Using the following graph to answer the follwing questions: 100 MC ATC AVC 20 MR 1,000…

A: Monopoly has the market power because there are no competitors in the market.

Q: With the aid of a diagram explain how a monopolist determines how much output to produce and what…

A:

Q: ompared to perfect competition, monopoly: A) Increases output B) Increases price C) Causes…

A: In a competitive market there are large number of firms producing identical products thus acting as…

Q: What is NOT a common reason for the development of a monopoly? options:   All other answers are in…

A: A monopoly refers to a market structure in which there is only one seller. There are no competitors…