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| a. |
geographic
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| b. |
natural monopoly
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| c. |
oligopoly
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| d. |
technological monopoly
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- When one company has all the market power because it can produce on a large scale cheaply, it is considered to be a ... Group of answer choices a. Natural Monopoly b. Unique Monopoly c. Government granted monopoly d. Favored nation monopolyA natural monopoly is most likely to occur in which of the following industries? Group of answer choices a. the pharmaceutical industry because the development and approval of new drugs through the Food and Drug Administration can take more than 10 years b. the diamond mining and marketing industry because one firm can control a key resource c. the software industry because of the importance of network externalities d. an industry where fixed costs are very large relative to variable costsMonopolies are generally economically inefficient if ________ exist(s). * A) a natural monopoly B) persistent economies of scale C) only a few firms D) no natural monopoly
- When does a company officially become a monopoly? a. when it controls more than 25 percent of the output of a certain product b. when the government decides the company is a threat to the national economy c. when a company controls the output for a marketable product without meaningful competition d. when a company controls more than 50 percent of the output of a productA natural monopoly is a monopoly that arises because one firm can meet the entire market demand at a lower average _____ cost than two or more firms could. A legal monopoly is a market in which _____ by the granting of a public franchise, government licence, patent, or copyright. A. fixed; competition and entry are restricted B. total; competition and entry are restricted C. variable; profts are maximized D. variable; costs are minimizedTrue or false. Justify and graph"A natural monopoly is one that exhibits increasing marginal productivity at an increasing rate."
- Which of these situations is likely to produce a monopoly market structure? Group of answer choices a. Patent b. New design c. Great advertising d. Could be either a patent, new design or great advertisingQuestion 6 Give an example of a government-created monopoly. Is creating this monopoly necessarily bad public policy? Explain.True or False: Monopoly is a market structure characterized by a large number of sellers competing to sell homogeneous products. Don't use Ai
- Different between the monopoly market and perfect competition market. Define in a well manner.Give typing answer with explanation and conclusion The inefficiency (dead-weight loss) of a monopoly (as compared to perfect competition) indicates the amount by which Group of answer choices price exceeds marginal revenue at a particular output level. consumer welfare is increased by the monopolist. price exceeds marginal cost at a particular output level. marginal benefits exceed marginal cost for those units not produced by the monopolist but that would otherwise be produced in a competitive market. marginal costs exceed marginal benefits for those units not produced by the monopolist but that would otherwise be produced in a competitive market.A monopoly occurs when there are barriers entering the market. List 3 types of these barriers with explanation and example.
