Question # 1 of 10 ( Starttime: 11:28:12 AM ) Total Marks: 1 A Natural Monopoly
ID: 1237069 • Letter: Q
Question
Question # 1 of 10 ( Starttime: 11:28:12 AM ) Total Marks: 1
A Natural Monopoly is most likely to exist when:
Select correct option:
There are large barriersto entry.
There are long term patents.
There are large economies of scale.
There is government regulation of the industry.
There is government regulation of the industry
Question # 2 of 10 ( Starttime: 11:29:22 AM ) Total Marks: 1
The demand curve facing a perfectly competitive firm is:
Select correct option:
The same as its averagerevenue curve but not the same as its marginal revenue curve.
The same as its average revenue curve and its marginal revenuecurve.
The same as its marginal revenue curve but not its average revenuecurve.
Not the same as either its marginal revenue curve or its averagerevenue curve.
Question # 3 of 10 ( Start time: 11:30:56 AM ) Total Marks:1
A monopolistically competitive firm in short runequilibrium:
Select correct option:
Will make negative profit(lose money).
Will make zero profit (break-even).
Will make positive profit.
Any of the given is possible.
Question # 4 of 10 ( Start time: 11:32:17 AM ) Total Marks:1
A market with few entry barriers and with many firms that selldifferentiated products is known as:
Select correct option:
Purely competitive
A monopoly
Monopolistically competitive
Oligopolistic
Question # 5 of 10 ( Start time: 11:33:45 AM ) Total Marks:1
Which of the following can be thought of as a barrier toentry?
Select correct option:
Scale economies.
Patents.
Strategic actions by incumbent firms.
All of the given options are true.
Question # 6 of 10 ( Start time: 11:35:19 AM ) Total Marks:1
A price taker is:
Select correct option:
A firm that acceptsdifferent prices from different customers.
A monopolistically competitive firm.
A firm that cannot influence the market price.
An oligopolistic firm.
A firm that cannotinfluence the market price
Question # 7 of 10 ( Starttime: 11:36:43 AM ) Total Marks: 1
Which one of the following is true with a pure monopoly?
Select correct option:
The monopoly's demandcurve and the market demand curve are one and the same.
The market is dominated by just two firms.
The monopolist will always charge the highest possible price.
The monopolist will always charge a high price because it wants tomaximize profits.
Question # 8 of 10 ( Starttime: 11:38:11 AM ) Total Marks: 1
In monopolist market, a new entrant firm should producewhere:
Select correct option:
Marginal Cost <Marginal Revenue.
Marginal Cost > Marginal Revenue.
Marginal Cost = Marginal Revenue.
Marginal Cost = Average Revenue.
Marginal Cost > Marginal Revenue. not sure
Question # 9 of 10 ( Starttime: 11:39:40 AM ) Total Marks: 1
Which of the following markets is most likely to beoligopolistic?
Select correct option:
The market for corn.
The market for aluminum.
The market for colas.
The market for ground coffees.
market of alumnimu
me: Question # 10 of 10 (Start time: 11:41:25 AM ) Total Marks: 1
If a monopolist sets his output such that marginal revenue,marginal cost and average total cost are equal, economic profitmust be:
Select correct option:
Negative.
Positive.
Zero.
Indeterminate from the given information.
Explanation / Answer
There are large barriersto entry.
There are long term patents.
There are large economies of scale.
There is government regulation of the industry.
There is government regulation of the industry
Question # 2 of 10 ( Starttime: 11:29:22 AM ) Total Marks: 1
The demand curve facing a perfectly competitive firm is:
Select correct option:
The same as its averagerevenue curve but not the same as its marginal revenue curve.
The same as its average revenue curve and its marginal revenuecurve.
The same as its marginal revenue curve but not its average revenuecurve.
Not the same as either its marginal revenue curveor its average revenue curve.
Question # 3 of 10 ( Start time: 11:30:56 AM ) Total Marks:1
A monopolistically competitive firm in short runequilibrium:
Select correct option:
Will make negative profit(lose money).
Will make zero profit (break-even).
Will make positive profit.
Any of the given is possible.
Question # 4 of 10 ( Start time: 11:32:17 AM ) Total Marks:1
A market with few entry barriers and with many firms that selldifferentiated products is known as:
Select correct option:
Purely competitive
A monopoly
Monopolistically competitive
Oligopolistic
Question # 5 of 10 ( Start time: 11:33:45 AM ) Total Marks:1
Which of the following can be thought of as a barrier toentry?
Select correct option:
Scale economies.
Patents.
Strategic actions by incumbent firms.
All of the given options aretrue.
Question # 6 of 10 ( Start time: 11:35:19 AM ) Total Marks:1
A price taker is:
Select correct option:
A firm that acceptsdifferent prices from different customers.
A monopolistically competitive firm.
A firm that cannot influence the marketprice.
An oligopolistic firm.
A firm that cannotinfluence the market price
Question # 7 of 10 ( Starttime: 11:36:43 AM ) Total Marks: 1
Which one of the following is true with a pure monopoly?
Select correct option:
Themonopoly's demand curve and the market demand curve are one and thesame.
The market is dominated by just two firms.
The monopolist will always charge the highest possible price.
The monopolist will always charge a high price because it wants tomaximize profits.
Question # 8 of 10 ( Starttime: 11:38:11 AM ) Total Marks: 1
In monopolist market, a new entrant firm should producewhere:
Select correct option:
Marginal Cost <Marginal Revenue.
Marginal Cost > Marginal Revenue.
Marginal Cost = Marginal Revenue.
Marginal Cost = Average Revenue.
Marginal Cost > Marginal Revenue. not sure
Question # 9 of 10 ( Starttime: 11:39:40 AM ) Total Marks: 1
Which of the following markets is most likely to beoligopolistic?
Select correct option:
The market for corn.
The market for aluminum.
The market for colas.
The market for ground coffees.
market of alumnimu
me: Question # 10 of 10 (Start time: 11:41:25 AM ) Total Marks: 1
If a monopolist sets his output such that marginal revenue,marginal cost and average total cost are equal, economic profitmust be:
Select correct option:
Negative.
Positive.
Zero.
Indeterminate from the giveninformation.