答案和详解如下： 1.Which of the following statements about monopolies is most accurate? A) A monopolist's optimal production quantity is at the point where marginal revenue equals marginal cost. B) Monopolists charge the highest possible price. C) Monopolists always make a profit. D) A monopoly structure is characterized by a well-defined product for which there are no good complements. The correct answer was A) All firms maximize profits where MR = MC. Because of a downward-sloping demand curve and high barriers to entry, monopolists can charge a price higher than MC. Like other price searchers, monopolists take price from the demand curve (at the quantity where MR=MC). The other statements are false. A monopoly structure is characterized by a well-defined product for which there are no good substitutes. A monopolist will earn a profit as long as the demand curve lies above the average total cost curve (ATC) at the optimal quantity point. Monopolists want to maximize profits, not price. 2.Which of the following most accurately describes a market structure that has one seller of a specific, well-defined product that has no good substitutes? A) Oligopoly. B) Monopoly. C) Monopolistic competition. D) Perfect competition. The correct answer was B) A monopoly is characterized by one seller, a specific and well-defined product for which there is no good substitutes, and high barriers to entry. 3.Which of the following most accurately describes the competitive structure that is characterized by a firm that operates with the lowest average total cost and has the capacity to produce all of an industry’s output? A) Oligopoly. B) Competitive monopoly. C) Contestable market. D) Natural monopoly. The correct answer was D) A natural monopoly is characterized by a single firm within the industry that has sufficient capacity to meet the entire demand of an industry because at that scale the lowest average total cost is achieved. 4.Which of the following is NOT a barrier to entry? A) Government licensing and legal barriers. B) Few sellers. C) Resource control. D) Economies of scale. The correct answer was B) Few sellers are a characteristic, not a barrier, of a price-searcher market where there are high barriers to entry. Other barriers are patents or exclusive rights of production. 5.There are four main barriers to entry. Which of the following is NOT a barrier to entry? A) Patents. B) Resource Control. C) Economies of Scale. D) Allocative Efficiency. The correct answer was D) The other barriers to entry are government licensing and legal barriers such as utilities are given the exclusive right to supply electricity in certain areas. | 
发表于 2008-4-17 10:03
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