Category: Monopoly

A. charging different prices on the basis of race
B. charging different prices for goods with different costs of production
C. charging different prices based on cost-of-service differences
D. selling a certain product of given quality and cost per unit at different prices to different buyers

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

A. The price is greater than the marginal cost
B. The price is greater than the average cost
C. Costs are higher than they could be due to a lack of competitive pressure
D. There are external cost

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

A. 1
B. 2
C. 3
D. 4
E. 5

A. Patents
B. Internal economies of scale
C. Mobility of resources
D. High investment costs

A. Cause the monopolist to exit the market
B. improve efficieny
C. raise the price of good
D. attract additional firms to enter the market

A. charge a higher price
B. produce a lower quantity of the product
C. make a greater amount of economic profit
D. all of the above

A. increase should
B. decrease output
C. keep output the same because profits are maximized when marginal revenue exceeds marginal cost
D. raise the price

A. Increase competition in an industry by preventing mergers and breaking up large firms.
B. regulate the prices charged by a monopoly
C. increase merger activity to help generate synergies that reduce costs and raise efficiency.
D. create public ownership of natural monopolies
E. all of these answers