Relative to a competitively organized industry a monopoly ?

Related Mcqs:

Marginal revenue is ?

A. the additional profit the firms earns when it sells an additional unit of output B. the difference between total revenue and total cost C. The ratio of total revenue to quantity. D. the added revenue that a firm takes in when it increases output by one additional unit....

Monopolistic competition differs from perfect competition primarily because ?

A. in monopolistic competition entry into the industry is blocked B. in monopolistic competition there are relatively few barriers to entry. C. in monopolistic competition, firms can differentiate their products D. in perfect competition firms can differentiate their products...

Which statement is False ?

A. Fixed costs are zero if the firms is producing nothing. B. Fixed costs are the difference between total costs and total variable costs C. There are no fixed costs in the long run D. Fixed costs do not depend on the firm’s level of output...

If a firm has some degree of market power, then output price ?

A. no longer influences the amount demand of the firm’s product B. becomes a decision variable for the firm C. is guaranteed to be above a firm’s average cost. D. is determined by the actions of other firms in the industry...

Which of the following statements best describes the outcome under monopolistic competition ?

A. It is efficient because the right amount of output is produced, but not efficient in that the output produced is produced at a cost above minimum average total cost B. It is efficient because entry is free and economic profits are eliminated in the long run. C. It is not efficient because too little … Which of the following statements best describes the outcome under monopolistic competition ?Read More...