48. Microsoft holds patents on Windows, but another source of its monopoly power

Question

48. Microsoft holds patents on Windows, but another source of its monopoly power identified in the book is:
A) the network effects associated with the standards set by Windows.
B) its willingness to use catalog sales as its primary form of retail sales.
C) its exclusive franchise from the government.
D) its restricted ownership of silica, the principle ingredient in manufacturing computer chips.

49. A statement that best reflects an evaluation of monopoly firms is that:
A) they are economically efficient.
B) they have little or no market power.
C) consumers are given more choices, lower costs, and larger quantities.
D) regulation is sometimes a solution to monopolies.

50. A statement that best reflects an evaluation of monopoly firms is that:
A) they are economically inefficient.
B) they have little or no market power.
C) consumers are given more choices, lower costs, and higher quality.
D) competition should replace all monopolies.

51. A statement that best reflects an evaluation of monopoly firms is that:
A) they have a great deal of market power.
B) they are economically efficient.
C) consumers are given more choices, lower costs, and higher quality.
D) competition should replace all monopolies.

Explanation / Answer

D) its restricted ownership of silica, the principle ingredient in manufacturing computer chips. C) consumers are given more choices, lower costs, and larger quantities. D) competition should replace all monopolies. A) they have a great deal of market power.

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