Monopoly market structure, When one firm controls all production and the price of a good

Monopoly market structure

When one firm controls all production and the price of a good without shut substitutes, there is: (i) monopoly market structure. (ii) violation of the law of demand and supply. (iii) lack of equity although assurance of efficiency. (iv) legal barrier to entry. (v) certainty of pure economic profit.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : Poverty and Human Capital Enabling

Enabling labor to move out of low-wage occupations by enhancing their education, skills, training and mobility, which will tend to: (w) lower the wages of those who leave the low wage occupation. (x) raise the wages of those who remain in the low wage

Q : What is revenue deficit in government

Revenue deficit in government budget: Whenever the revenue expenses of the government is more than the revenue receipts it is termed as revenue deficit Revenue expenditure > Revenue receipts

Q : Increases profits by marginal revenue

Assuming which marginal revenue equals $4 and marginal cost equals $5, a monopolist could raise profits by: (w) lowering both price and output. (x) increasing both price and output. (y) increasing price and decreasing output. (z) decr

Q : Barriers to entry for new firms in

Barriers to entry, that is: (w) make this complicated or impossible for new firms to profitably enter an industry. (x) uniformly violate U.S. antitrust statutes. (y) are essentially technological instead of economic. (z) stimulate aggressive com

Q : How changes in weather affect

I have a problem in economics on how changes in weather affect agricultural output. Please help me in the following question. Economists consider how changes in the weather influence the agricultural output as: (i) Signs of ecological imbalances. (ii) Technological mo

Q : What is generated by imposition of a

Imposition of a price floor tends to generate a: (w) shortage of the good. (x) surplus of the good. (y) excess demand for the good. (z) sellers’ market for the good. Hey friends please give your opinion for t

Q : Determine marginal revenue and marginal

While this firm maximizes economic profits, in that case marginal revenue and marginal costs would be: (1) $4 per unit. (2) $6 per unit. (3) $8 per unit. (4) $10 per unit. (5) $12 per unit.

Q : Purely competitive price takers and

Different from Firm D, Firms A and B as well as C are all: (w) profitable firms that enjoys significant market power. (x) purely-competitive price-takers and quantity-adjusters. (y) pure monopolies. (z) perfectly inelastic suppliers.

Q : Distorted competitive workings of the

The competitive workings of the market for soy beans would be distorted when: (1) Europe experiences a severe drought and has paltry harvests this year. (2) Ethiopia imports soy beans to feed its hungry masses. (3) the U.S. imposes a soy bean embargo forbidding export

Q : Long-run supply curve in constant cost

When cranberries are a constant cost industry and that firm is typical, in that case the industry’s long-run supply curve is curve as: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E.

Discover Q & A

Leading Solution Library

Avail More Than 1461044 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1951178
Asked

3,689

Active Tutors

1461044

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment