Which of the following is a characteristic of pure monopoly ?

Related Mcqs:

A welfare loss occurs in monopoly where ?

A. The price is greater than the marginal cost B. The price is greater than the marginal benefit C. The price is greater than the average revenue D. The price is greater than the marginal revenue...

When a monopolist produces an additional unit, the marginal revenue generated by that unit must be ?

A. below the price because the price effect outweighs the output effect B. above the price because the output effect outweighs the price effect C. above the price because the price effect outweighs the output effect D. below the price because the output effect outweighs the price effect...

Thomas is a monopolist in the production of your textbook because ?

A. Thomson has a legally protected exclusive right to produce this textbook B. Thomson owns a key resource in the production of textbooks. C. Thomson is a natural monopoly, D. Thomson is a very large company...

In a monopoly which of the following is not true ?

A. Products are differentiated B. There is freedom of entry and exit into the industry in the long run C. The firm is a price taker D. There is one main sellers...

According to Schumpeter ?

A. Monopolies are inefficient B. Monopoly profits ac as an incentive for innovation C. Monopolies are alocatively efficient D. Monopolies are productively efficient...