which one of the following about a monopoly is false?
C)The demand for its product is perfectly elastic. Question. Take up the ultimate microeconomics quiz on monopoly and see how much … B) A monopoly could break even in the long run. A monocle is a single eyeglass. B)Monopolies have no barriers to entry or exit. All of the following are possible characteristics of a monopoly except: asked Jul 10, 2016 in Economics by Pirlo. C. Consumer surplus is greater under perfect competition. Are the following statements about monopolistic markets true or false? 3 Answers. What do you know about this type of market, its level of demand and supply and characteristics? Which of the following can destroy a monopoly? D) this statement is false, monopolies do have to worry. Which of the following is not one of the Monopoly … Which of the following statements about productive efficiency is true? A)monopoly B)duopoly C)perfect competition D)oligopoly. B. 0 votes. True or False: Without government regulation, natural monopolies never earn zero profit in the long run. Producer surplus is greater under monopoly. A monopoly status could be temporary. 15. $1640. Which one of the following is true for a single-price monopolist but false for a perfectly competitive firm? A)It is able to produce at a lower cost than competing firms could. 24) Which one of the following about a monopoly is false? C) A monopoly must have some kind of government privilege or government-imposed barrier to maintain its monopoly. B) no barriers to entry exist in a monopoly. A potential drawback of this approach is that government … In monopoly, firm is different from industry. macroeconomics 0 Answers. Favourite answer. C) the firm produces a unique product. Patent laws promote technical progress in all of the following ways except one. b) As compared with a perfectly competitive market, a monopolist produces less output at a lower price. Question 20 1 pts Which one of the following about a monopoly is false? C) Asked 6/23/2015 8:28:59 AM. F. Price is lower under … B) the firm is a price taker. C) They provide a stimulus to innovation. Get an answer. 68) Which one of the following about a monopoly is false? B)It has economies of scale and a declining LRAC over the relevant range of demand. Answer Save. $35. When a firm is the only producer of a given product or is the only one offering a given service in the market it has a lot of power over the pricing and this is called a monopoly market. A) there is a single firm. A monopoly tends to result in a lower quantity being sold than perfect competition does. Under monopoly all firms can sell at any price. Which one of the following about a monopoly is false? B) government regulation of monopolies is not very effective. B. b. B) A monopoly could break even in the long run. D. The terms of a negotiated contract depend in … c. A monopoly arises in a situation with few barriers to entry into the marketplace. B) Monopolies have no barriers to entry or exit. Explore answers and all related questions . Melrose Avenue and Hollywood Boulevard are spaces in Monopoly. A) A monopoly is the only supplier of the good. While a monopoly, by definition, refers to a single firm, in practice, the term is often used to describe a market in which one firm has a very high market share. C) firms are price-takers in monopolistic competition. D. The start-up costs in a monopolistically competitive industry are low. Natural monopoly exists due to higher cost of production, and an increase in the output will decrease the average total cost. Multiple choice questions Try the multiple choice questions below to test your knowledge of this chapter. Question 15 1 pts In the long run, a firm in a … The bargaining process should begin only after a union has gone out on strike. A monoplane is an aircraft with one wing. Once you have completed the test, click on 'Submit Answers for Grading' to … Option (a): Under Natural monopoly, firms can control either the price or quantity to increase the sales. Save. B)no close substitutes. E. The bargaining process involves a give-and-take strategy by both sides. a. judicial powers b. postal powers c. territorial powers d. war powers b or c, but ill go with b. asked … A monopoly sells lower-quality products at higher prices than in a perfect competition. Search for an answer or … B) can influence the market quantity and price. A. A monopoly must have some kind of government imposed barrier to maintain its monopoly. D. A monopoly status could be temporary. C. A monopoly could break even in the long run. Relevance. Answer:D a) A monopolist faces a downward sloping demand curve, which means that its marginal revenue is always lower than price. Monopoly is a single supplier, the only firm in an industry. Choose the one alternative that best completes the statement or answers the question. A) At ... One factor that distinguishes a monopoly from monopolistic competition is that A) barriers to exit exist in monopolistic competition. $1500. B. D) A monopoly status could be temporary. D) They provide the inventor with a temporary monopoly. As you work through this module, think about the following … b) Firms in these industries are interdependent. B) the extra revenue from an additional dollar spent on advertising just equals the marginal cost of producing one more unit of the good. C. Collusion is legal in the United States, but cartels are not. Output is higher under perfect competition. b. Multiple Choice . $50. C) The good produced by a monopoly has no close substitutes. a … Such a policy option, which might be chosen by a government that views electricity as a public good, is generally the European approach to providing utilities. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the … A monopolist can make higher profits if it can price discriminate. Updated 10/14/2016 1:51:21 PM. NEXT> 5. Therefore, on the basis of the given options, we can state that all are rightly said about the monopoly market; except - in this kind of market there are no barriers to entry and exit', which is absolutely wrong. c) The fact that there is more than one firm in an oligopoly means that there are no barriers to entry. D) is about the same as entering a monopoly industry. Explain your answer in one sentence. a. Question: Which one of the following statements about a monopoly is false? $8. D. Total surplus is greater under monopoly. c) A monopoly can basically exist … A monopoly could make profits in the long run. A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly. The firm's marginal revenue curve is horizontal. NEXT> 7. The firm is a price-taker. Question 1 options: A single firm serves the market. A)duopoly B)oligopoly C)monopoly D)monopolistic competition. C) cannot incorporate. O A monopoly status could be temporary. D) the existence of some advertising. 1) Unregulated monopolies A) cannot change the market quantity. Monopolies have monopoly power, which is the ability to set the market price. Natural monopolies are necessary to avoid wasteful duplication of resources. D) take the market price as given. A monopoly does not have to worry about suffering losses because: A) it has the power to set its prices at any level it desires. Question 2. 2)The following are key features of a monopoly EXCEPT A)diseconomies of scale. Which is the exception? Even though there are very few true monopolies in existence, we deal with some every day, often without realizing it: your electric and garbage collection companies for example. X It means that an economy is producing at a point on its production possibility frontier. Best answer. Which of the following represents one of congress’s electoral powers? Question 1. Question 2 (2 points) … A. Thus, option ‘d’ is correct. 7,136 results government congress shares powers with the president in the field of foreign affairs. 1 points Question 63 Which of the following statements about collective bargaining is FALSE? $28. 8 years ago. 9) In a monopolistically competitive market, a firm should advertise to the point at which A) it is selling the most units it can possibly sell. Answer: False: Under monopoly there is only one firm. False. Question 1 Which of the following statements about industries that are oligopolies is false? A)A monopoly is the only supplier of the good. 54)Which of the following refers to the type of competition that occurs when only one company dominate a market? Page 1 Chapter 12 Monopoly - Sample Questions MULTIPLE CHOICE. Related questions. A) They allow other firms to copy successful products as soon as they are marketed. answered Jul 10, 2016 by … There are no close substitutes for the monopolist's output. When a natural monopoly, such as an electric utility, is forced to sell itself to a public institution, the private monopoly will become a public enterprise. Question 154. All of the following,except one,are true statements about a natural monopoly.Which one is the exception? $2000. B. B )Explanation: As we know, a monopoly can be defined as the market of a single seller producing the unique products.. d) An oligopoly … Which of the following at one time were monopolies because they were the first to enter their field? If perfect competition is at one end of the competitive spectrum, at the other end is monopoly. This market is an example of ____. 2) 3)Which of the following statements about a monopoly is FALSE? O A monopoly could make profits in the long run. The false statement from the following options above is : The start-up costs in a monopolistic ally competitive industry are low In a typically monopolistic market, there will always be an extremely high fixed cost of distribution, which make the start-up cost unbelievably high Quiz 22: Monopoly; Which of the Following at One Time Were Monopolies Because. A monopoly could make profits in the long run. A. There are usually significant barriers to entry. C. The objectives bargained for by a union and management are largely economic. $1250. NEXT> 4. A) A monopoly could make profits in the long run. a. C) it can always operate where MR > MC. O Amonopoly could break even in the long run O A monopoly must have some kind of government privilege or government- imposed barrier to maintain its monopoly. B) They prevent duplication of inventions. d. All of the above are correct. D) firms in monopolistic competition practice collusion. Which of the following statements about monopoly is false? Answer:C. 55)Four banks dominate the banking sector in the United Kingdom. False. what other powers do congress and the president share? Answer the following questions and then press 'Submit' to get your score. Which one of the following statements is false? s. Log in for more information. True. How much money does each player receive from the banker at the beginning of the game? 1) 2) The following are key features of a monopoly EXCEPT … Even though there are very few true monopolies in existence, we deal with some every day, often without realizing it: your electric and garbage collection companies for example. C)influence over price. A)Xerox B)IBM C)Microsoft D)All of the choices are true. Which of the following statements with respect to a monopolist is false? 68) A) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly. a) A monopoly must have some kind of government privilege or government-imposed barrier to maintain its monopoly. Which one of the following comparisons between monopoly and perfect competition is false? Y It will arise if all firms face the same prices for any inputs that are used by more than one firm, and if all firms are economically efficient. What is the rent on Boardwalk without any houses or hotels? 14. D)barriers to entry. Which of the following statements about a monopoly is FALSE? Natural monopoly analysis The following graph shows the demand (D) for electricity services in the imaginary town of Utilityburg. a) Firms in these industries may attempt to cooperate. Giving reasons, state whether the following statements are true or false. Which one of the following about a monopoly is false? A. E. Deadweight loss is greater under monopoly. answered Jul 10, 2016 by Island_Girl . a. technology c. a reduction in the price of factor inputs b. increased barriers to entry d. a law which outlaws price discrimination Technology can destroy a monopoly. Which statement is false? D) None of the above; that is, all of the above answers are true statements about a monopoly. Mono means one. Because there is a single firm serving the entire market, the monopolist can charge whatever price it wants to for its output. Anonymous. 1 Answer/Comment. NEXT> 6. c. The firm's marginal cost is less than price at equilibrium output. True False PRICE (Cents per Kilowatt-hour) 8. While a monopoly, by definition, refers to a single firm, in practice, the term is often used to describe a market in which one firm has a very high market share. B 0 votes. D)The demand is perfectly inelastic. 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