Guidelines of economics understanding monopoly
| |Refer to the diagram under for a non-discriminating monopolist and answer the subsequent questions one particular to six: | | | |[pic] | | |1. |The profit-maximizing outcome for this company is M. |T / F | |2. |At the profit-maximizing output the firm’s financial profit will probably be BAFG. |T / Farreneheit | |3. |At outcome R economical profits will be zero. |T / Farrenheit | |4. |At end result Q creation will be unprofitable. |T / F | |5. |The profit-maximizing value for this firm is L. |T / F | |6. |At output Meters total price will be 0CHM. |T as well as F | |7.
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|If the government adjusts the monopolist so that it fees the socially optimal value, the monopolist will |T / N | | |produce end result Q.
| | |8. |A monopoly is an industry with a sole firm where the entry of recent firms can be blocked. |T / F | |9. |If entrance of new organizations is forbidden in a natural monopoly market the monopolist may be able to earn normal revenue in|T / F | | |the long run. | | |10. |The natural monopolist’s require curve is definitely the industry require curve. |T / Farrenheit | |11.
|A monopolist sets the price from which marginal earnings equals marginal cost.
|T / N | |12. |When a monopolist incurs a damage it will develop as long as their total income covers the total adjustable costs. |T / Farrenheit | |13. |Natural monopolies result from intensive economies of scale in production. |T / Farreneheit | |SECTION B | |1. |[pic] | | |Refer to the diagram over. Determine the: | | | | | | |i. |Price equilibrium | | |ii. |Quantity sense of balance | | | | | | |At sense of balance, calculate the: | | | | | | |iii. |Total variable costs | | |iv. |Total costs | | |v. |Total set costs | | |vi. |Total revenue | | |vii. |Total profit/loss | |2.
|The following plan shows the cost and revenues for the producer of Company DeMassa. | | | | | | | |[pic] | | | | AR sama dengan average income | | | | MR = marginal earnings | | | | AC sama dengan average price | | | | MC = marginal price | | | | | | | | | | |a. |At what output and selling price will the manufacturer maximize its profits? Make clear | | | | | | |b. |How much profit/loss will be produced? Should the organization continue production? | | | | | | |c. |Would you classify Company DeMassa’s market composition as perfect competition or imperfect competition? | | | |Explain. | | | | | | |d.
|List four attributes of the industry structure over. | | | | | | |e. |Based on portion a, calculate the total fixed cost of the firm. | | | | | | SECTION C 1 . Explain the various price splendour practices. Price discrimination is bad for the general public. Do you go along with this statement? 2 . List four types of obstacles to admittance. 3. Clarify the advantages and drawbacks of monopoly. MC AIR CONDITIONER AVC on the lookout for 10 14 12 AR Quantity (million, unit) MR Price, dollar 7 six 5 4 Quantity (‘000) MR FLADEM?L 22 twenty 17 18 14 Price (RM) MC AC AVC 160 185.
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