33) Several firms are operating in a market where they take the other firms\' re
ID: 1100122 • Letter: 3
Question
33)
Several firms are operating in a market where they take the other firms' response to their actions into account. This market is:
a competitive market.
a monopolistically competitive market.
an oligopolistic market.
a monopoly.
34)
A perfectly price-discriminating monopolist:
creates more consumer surplus for the consumer.
increases both consumer surplus and producer surplus.
reduces or eliminates the welfare loss from monopoly.
increases the welfare loss from monopoly.
36)
A profit-maximizing monopolist will always set price equal to marginal cost.
True
False
42)
Monopolistically competitive firms:
can earn economic profits or losses in both the short run and the long run.
can earn either profits or losses in the short run but earn zero economic profits in the long run.
earn economic profits in the short run but zero economic profits in the long run.
earn zero economic profits in both the short run and the long run.
43)
A movie theater is a price-discriminating monopolist and charges a higher ticket price for late-evening showings. From this we know that:
late-evening moviegoers have perfectly inelastic demand schedules.
late-evening moviegoers have less elastic demands than daytime or early-evening moviegoers.
late-evening moviegoers have more elastic demands than daytime or early-evening moviegoers.
daytime and early-evening moviegoers have perfectly elastic demands.
49)
Compared with a normal monopolist, an effective price-discriminating monopolist produces a:
smaller output at a lower profit.
smaller output but at a larger profit.
larger output at a larger profit.
larger output but at a lower profit.
a competitive market.
a monopolistically competitive market.
an oligopolistic market.
a monopoly.
Explanation / Answer
33)
Several firms are operating in a market where they take the other firms' response to their actions into account. This market is:
a competitive market.
a monopolistically competitive market.
an oligopolistic market.
a monopoly.
34)
A perfectly price-discriminating monopolist:
creates more consumer surplus for the consumer.
increases both consumer surplus and producer surplus.
reduces or eliminates the welfare loss from monopoly.
increases the welfare loss from monopoly.
36)
A profit-maximizing monopolist will always set price equal to marginal cost.
True
False
42)
Monopolistically competitive firms:
can earn economic profits or losses in both the short run and the long run.
can earn either profits or losses in the short run but earn zero economic profits in the long run.
earn economic profits in the short run but zero economic profits in the long run.
earn zero economic profits in both the short run and the long run.
43)
A movie theater is a price-discriminating monopolist and charges a higher ticket price for late-evening showings. From this we know that:
late-evening moviegoers have perfectly inelastic demand schedules.
late-evening moviegoers have less elastic demands than daytime or early-evening moviegoers.
late-evening moviegoers have more elastic demands than daytime or early-evening moviegoers.
daytime and early-evening moviegoers have perfectly elastic demands.
49)
Compared with a normal monopolist, an effective price-discriminating monopolist produces a:
smaller output at a lower profit.
smaller output but at a larger profit.
larger output at a larger profit.
larger output but at a lower profit.
a competitive market.
a monopolistically competitive market.
an oligopolistic market.
a monopoly.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.