Monopolistic has small firms in the market. Each firm sells a product or service
ID: 1219362 • Letter: M
Question
Monopolistic has small firms in the market. Each firm sells a product or service. Each firm is a price [maker or taker]? The industry has too (many or few j firms? The industry has excess [capacity or profits]? Entry by new firms is [easy or difficult]? The firm's demand line is [downward sloping or flat]? The slope of MR is twice the slope of [supply or demand]? It is assumed that price discrimination is [commonplace or unusual]? No price discrimination creates a separate line for [MR or ATC]? Monopolistic stores are [local or national]? Monopolistic markets are [small or regional]? Profit max quantity is where MC equals [ATC or MR]? At profit max quantity, the marginal profit on the last unit is [infinite or zero]? In the long run the firm's ATC is tangent to [MR or demand]? The average firm only earns [normal or economic) profits in the long run? Many monopolistic stores operate below breakeven because of too [many or few] stores? In the long run at MC = MR the ATC equals [AVC or price]? The TR curve for monopolistic stores is [linear or curvilinear]? Where the TR is maximized the MR is equal to [one or zero]? The MR is (positive or both positive and negative]? If the MR is greater than MC, the firm has produced [too much or too little]? If the price line is above the ATC, the firm is [profitable or unprofitable]? Normal profits are included in the [AR or ATC] curve? Normal profits are equal to [zero or fair] return on investment? Normal profits are enough to sustain the firm for the [long run or only the short run)? Contribution rate is price minus [ATC or AVC]? BEQ is [TVC or TFC) divided by P - AVC? Monopolistic stores experience [one or two] BEQ's? Marathon is an oligopoly but one station is [monopolistic or monopoly] store? Monopolistic stores have a recognizable market [share or control)? Excess profit in monopolistic markets will disappear in the long run because of [entry or taxes]? The desire to be one's own boss creates too [many or few] stores? New firms entering the market shift historical demands for old firms [left or right]? Failure to block entry allows profits to (increase or decrease]? The lowest cost is MC equals [ATC or AR]? Shutdown is whenever the price falls below equality of MC equal [ATC or AVC]? Many monopolistic stores operate with less than normal profits because many owners [like or dislike] their chosen career path and refuse to liquidate?Explanation / Answer
1,Many
2.Differentiated
3.maker.
4.many.
5.Excess capacity.
6.easy.
7.downward sloping
8.demand
9.commmonplace
10.MR
11.local
12.regional
13.MR.
14.Zero
15.demand.
16.normal
17.many stores.
18.price.
19.linear.
20.positive.
21.AR.
22.to little
23.profitable.
24.AR.
25.fair
26.only short run
27.ATC.
28.TVC
29.one
30.Monolpoly
31.share.
32.entry
33.many
34.left
35.decrease.
36.ATC
37.AVC
38.like