Q6. Which of the following is least relevant when explaining why monopoly firms can earn positive economic profits over the long term? A) Control over production input resources. B) The ability to use price discrimination. C) The existence of economies of scale.
Q7. What is the relationship between price and marginal revenue for a price searcher? A) Marginal revenue < price. B) Marginal revenue > price. C) Marginal revenue = price.
Q8. Which of the following is least accurate regarding the relationship between price (P), marginal revenue (MR), average total cost (ATC), and marginal cost (MC) at the profit maximizing output under monopoly? A) P = MR. B) MR < ATC. C) MR = MC.
Q9. Which of the following statements regarding a monopolist is most accurate? A) A monopolist will maximize the average profit per unit sold. B) A monopolist will charge the highest price for which he can sell his product. C) A monopolist, like any other profit-maximizing firm, will sell at the output level where marginal revenue equals marginal cost.
Q10. A monopolist will continue expanding output as long as:
A) marginal revenue is greater than marginal cost. B) marginal revenue is positive. C) economic profit is greater than zero.
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发表于 2009-1-14 13:47
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