4. At the profit-maximizing output for the firm in Exhibit 9.-3, the single pric

Question

4. At the profit-maximizing output for the firm in Exhibit 9.-3, the single price monopolist will charge a. $30 per unit of output. $24 c. $22 d. $20 e. $10 5. The total revenue for the firm in Exhibit 9.3, a monopolist that maximizes profit while all customers the same price, is a. $2,574 b. $2,808 c. $2,100 d. $1,638 e. $3,300 6· The total cost for the firm in Exhibit 9-3, a monopolist that maximizes profit while charging all customers the same price, is a. $3,300 b. $3,400 c. $2,808 $2,340 e. $1,638 The firm in Exhibit 9-3, a monopolist that maximizes profit by charging all customers the same price, is making a profit of a. $O b. $234 c. $482 7· d. $960 $468 CHAPTER 10 - Monopolistic Competition and Oligopoly . Monopolistically competitive industries consist of a. one firm selling several products b. one firm selling one product c. many firms, all selling identical products d. many firms, each selling a slightly different product e. many firms, each selling a completely different product

Explanation / Answer

1.

Monopolistically competitive industries consist of:

d. many firms, each selling a slightly different product.

This is because, in case of a monopolistically competitive industry, there is many firms which produces differentiated product based on non price competition.

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