ECN QUIZ 10 Question and answers
already passed 2025
If a monopolist produces beyond the quantity where MC = MR: - correct
answer ✔
Refer to the graph shown. Assuming that this monopolist maximizes profit, the
marginal cost of its last unit of output will be: - correct answer ✔$8
Natural monopoly exists when: - correct answer ✔one firm can supply the
entire quantity demanded at lower cost than two or more firms.
If a monopolistically competitive firm is earning economic profits in the short
run: - correct answer ✔these profits will be eliminated in the long run as new
firms enter the industry.
For a monopolist, the point where the marginal revenue curve intersects the
horizontal axis is: - correct answer ✔one-half the distance between the origin
and the point where the demand curve intersects the horizontal axis.
already passed 2025
If a monopolist produces beyond the quantity where MC = MR: - correct
answer ✔
Refer to the graph shown. Assuming that this monopolist maximizes profit, the
marginal cost of its last unit of output will be: - correct answer ✔$8
Natural monopoly exists when: - correct answer ✔one firm can supply the
entire quantity demanded at lower cost than two or more firms.
If a monopolistically competitive firm is earning economic profits in the short
run: - correct answer ✔these profits will be eliminated in the long run as new
firms enter the industry.
For a monopolist, the point where the marginal revenue curve intersects the
horizontal axis is: - correct answer ✔one-half the distance between the origin
and the point where the demand curve intersects the horizontal axis.
